capital gains - sale of land
This query is : Resolved
28 November 2009
the client purchased a land from sick unit. there were workers forcibily occupying the land. however sale deed states vacant land possession given. Our client entered into MOU with third party, for getting cleared workers for a consideration. later client selling the land & claiming as expense the amount paid to third party. ITO disallowing the payment. can it be claimed u/s.48. Can any one cite any judgements preferably supreme court similar to the above transaction.
28 November 2009
Yes can claim under section 48(1).
Citation :-
1) CIT Vs. Venkataraman (1982) 137 ITR 846 (Mad).
2) CIT Vs. Shakuntala Rajeshwar (1986) 160 ITR 840 (Del).
Citation :-
1) CIT Vs. Venkataraman (1982) 137 ITR 846 (Mad).
2) CIT Vs. Shakuntala Rajeshwar (1986) 160 ITR 840 (Del).
29 November 2009
interesting
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