Deduction of expenses from capital gain - Amount paid to avoid ...

Taxpayer Wins: Deductions for Avoiding Litigation Allowed Against Short-Term Capital Gains; Income Additions Deleted.

July 22, 2023

Case Laws Income Tax AT

Deduction of expenses from capital gain - Amount paid to avoid to litigation, claimed as deduction against the short-term capital gain - sham transaction - The revenue did not initiate proceedings against the company involved in the transaction - The assessee cannot be subjected to tax for the capital gain on the amount mentioned in the memorandum of understanding - Additions deleted - AT

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Deduction of expenses from capital gain - Amount paid to avoid ...

Taxpayer Wins: Deductions for Avoiding Litigation Allowed Against Short-Term Capital Gains; Income Additions Deleted.

July 22, 2023

Case Laws Income Tax AT

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