https://www.taxtmi.com/caselaws?id=211563 The High Court upheld that the payment made to the bank constituted business expenditure, emphasizing commercial expediency. Additionally, it ruled that the index value for calculating capital gains should be based on the date of the actual sale, not the date of conversion into stock-in-trade. The court dismissed the Revenue's appeal, affirming the decisions of the lower authorities and reinforcing principles of commercial expediency and proper interpretation of tax provisions in assessing business expenditures and capital gains. en-us Tue, 25 Jan 2011 00:00:00 +0530 Mon, 26 Mar 2012 07:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211563 The High Court upheld that the payment made to the bank constituted business expenditure, emphasizing commercial expediency. Additionally, it ruled that the index value for calculating capital gains should be based on the date of the actual sale, not the date of conversion into stock-in-trade. The court dismissed the Revenue's appeal, affirming the decisions of the lower authorities and reinforcing principles of commercial expediency and proper interpretation of tax provisions in assessing business expenditures and capital gains. Case-Laws Income Tax Tue, 25 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211563