https://www.taxtmi.com/caselaws?id=62944 The appeals by both the assessee and the Revenue were dismissed. The CIT(A)'s order was upheld, concluding that the assessee was liable to pay tax on his 25% share of the sale consideration amounting to Rs. 96 lakhs, and no deduction under section 48 was allowable for the payment made to Shri B.N. Soi. The levy of interest under section 234B was also upheld, with directions to the AO to verify the calculations. en-us Tue, 31 Aug 1999 00:00:00 +0530 Tue, 25 Jan 2011 17:16:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62944 The appeals by both the assessee and the Revenue were dismissed. The CIT(A)'s order was upheld, concluding that the assessee was liable to pay tax on his 25% share of the sale consideration amounting to Rs. 96 lakhs, and no deduction under section 48 was allowable for the payment made to Shri B.N. Soi. The levy of interest under section 234B was also upheld, with directions to the AO to verify the calculations. Case-Laws Income Tax Tue, 31 Aug 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62944