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2011 (9) TMI 104 - ITAT MUMBAI
Expenses incurred (professional Fee or Management fee) to earn short term capital gains. - Diversion of income by overriding title - Relation of expenses with sales consideration- Held that :- on the basis of Devendra Motilal Kothari’s case (2010 -TMI - 206465 - ITAT MUMBAI), Fees cannot form part of computation of capital gains u/s 48 and has to be ignored. It is the only issue in the present appeal and the facts are in pari materia with those considered and decided by the Mumbai Benches. Decided against Assessee.