TMI Blog2024 (3) TMI 947X X X X Extracts X X X X X X X X Extracts X X X X ..... tion with transfer as contemplated under section 48(i) of the Act and reached a conclusion that the expression in connection with such transfer is certainly wider than the expression for transfer and held that any amount of payment of which is absolutely necessary to effect transfer will be an expenditure covered by section 48(i) of the Act. In the case on hand, the assessee is a non-resident individual and for the purpose of effecting transfer of the property, he had to travel to India and incurred the expenditure for obtaining special power of attorney from Indian Consulate in USA, air tickets, hotel accommodation receipts, postal charges receipts, conveyance charges, lawyer fees, photocopying expenses, without which the transfer could no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eyance charges, lawyer fees, photocopying expenses receipts etc., which was specifically needed to execute the sale. Learned Assessing Officer allowed transfer expenses to the tune of Rs. 46,000/- incurred in respect of brokerage, air tickets, hotel accommodation receipts, postal charges receipts, conveyance charges, lawyer fees, photocopying expenses and disallowed Rs. 2,35,425/- claimed by the assessee in respect of brokerage, air tickets, hotel accommodation receipts, postal charges receipts, conveyance charges, lawyer fees, photocopying expenses. 3. Assessee preferred objections before the learned DRP and submitted that all the expenses incurred by the assessee in connection with transfer are allowable expenditure and relied upon by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... charges, lawyer fees, photocopying expenses receipts etc., but Revenue s case is that such expenses cannot be considered for the purpose of computing the capital gains under section 48 of the Act. Hon'ble Bombay High Court considered the question as to what constitute the expenditure incurred wholly and exclusively in connection with transfer as contemplated under section 48(i) of the Act and reached a conclusion that the expression in connection with such transfer is certainly wider than the expression for transfer and held that any amount of payment of which is absolutely necessary to effect transfer will be an expenditure covered by section 48(i) of the Act. 8. In the case on hand, the assessee is a non-resident individual and for t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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