https://www.taxtmi.com/caselaws?id=217588 The High Court of Karnataka dismissed the revenue's appeal regarding the disallowance of liaison charges against short-term capital gains only. The court upheld the apportionment of liaison charges between short-term and long-term capital gains by the Assessing Authority, emphasizing the importance of factual evidence and documentation. The court found no evidence to suggest the assessee's contentions were false and criticized the lack of contrary evidence from the revenue department. The judgment highlighted the necessity of concrete proof to support claims and upheld the decisions of the appellate authorities, concluding that no substantial question of law merited admission. en-us Wed, 22 Feb 2012 00:00:00 +0530 Fri, 19 Oct 2012 13:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217588 The High Court of Karnataka dismissed the revenue's appeal regarding the disallowance of liaison charges against short-term capital gains only. The court upheld the apportionment of liaison charges between short-term and long-term capital gains by the Assessing Authority, emphasizing the importance of factual evidence and documentation. The court found no evidence to suggest the assessee's contentions were false and criticized the lack of contrary evidence from the revenue department. The judgment highlighted the necessity of concrete proof to support claims and upheld the decisions of the appellate authorities, concluding that no substantial question of law merited admission. Case-Laws Income Tax Wed, 22 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217588