https://www.taxtmi.com/caselaws?id=219615 Interest, service charges and incidental charges paid through a portfolio manager for acquiring shares were held to be wholly connected with acquisition of a capital asset and therefore formed part of the cost of acquisition. The adjustment made by reducing that cost and treating the difference as taxable income was found to have no independent basis, because capital gains had to be computed on actual acquisition cost and the expenditure could not be recharacterised as a revenue disallowance linked to dividend income. The addition was deleted in favour of the assessee. en-us Fri, 20 Jul 2012 00:00:00 +0530 Thu, 01 Sep 2016 12:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219615 Interest, service charges and incidental charges paid through a portfolio manager for acquiring shares were held to be wholly connected with acquisition of a capital asset and therefore formed part of the cost of acquisition. The adjustment made by reducing that cost and treating the difference as taxable income was found to have no independent basis, because capital gains had to be computed on actual acquisition cost and the expenditure could not be recharacterised as a revenue disallowance linked to dividend income. The addition was deleted in favour of the assessee. Case-Laws Income Tax Fri, 20 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219615