Capital Gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 May 2011
In one case, assessee have entered in an agreement to sell with Mr.X. And after few years Mr.X transferred the said asset to Mr.B. Now ITO have raised the issue that since ownership is not transferred, sale consideration is taxable again in the hands of assessee. So, whether assessee claim such amount as Expenses wholly and exclusively in connected with transfer or not.
CA MANOJ GUPTA
(Expert)
20 May 2011
WHICH EXPENSES ARE U TALKING ABOUT
IF WITH THE AG TO SELL POSSESSION OF ASSET HAS ALREADY BEEN GIVEN TO MR X THEN IT IS X WHO IS LIB TO CG
CA MANOJ GUPTA
JODHPUR
09828510543
IF WITH THE AG TO SELL POSSESSION OF ASSET HAS ALREADY BEEN GIVEN TO MR X THEN IT IS X WHO IS LIB TO CG
CA MANOJ GUPTA
JODHPUR
09828510543
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