TMI BlogCapital Gains - There was proximate link and the expenditure incurred was in furtherance and to...Capital Gains - There was proximate link and the expenditure incurred was in furtherance and to effectuate the transfer/sale of the property and was not remote and unconnected. Expenditure of ₹ 25,00,000/-, therefore, has to be treated as expense incurred wholly and exclusively in connection with the transfer of immovable property and, hence, allowable as a deduction under clause (i) of Section 48 of the Act. - HC ..... X X X X Extracts X X X X X X X X Extracts X X X X
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