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Securities and stock brokers can't be compared with merchant bankers

February 26, 2019[2019] 102 335 (Bombay)/[2019] 261 Taxman 404 (Bombay)

IT/ILT : Where merger/amalgamation had taken place in a company, it being not a normal event, such a company would cease to be comparable

IT/ILT : Securities and stock brokers cannot be compared with merchant banker

IT/ILT : An adjustment on account of interest earned on margin money deposited by AE with assessee, providing broking services for future and option trade should be factored in to determine ALP

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