https://www.taxtmi.com/caselaws?id=246258 The High Court set aside the Tribunal's order disallowing the appellant's deduction claim under Section 37 of the Income Tax Act, 1961. The Court directed a fresh consideration focusing on the claim under Section 48, emphasizing that the expenditure was linked to the transfer of shares. The appellant was barred from claiming deduction under Section 37, with the matter remanded for review on merits. Substantial legal questions were left unaddressed, and no costs were awarded, disposing of the appeal with directions for further proceedings. en-us Fri, 04 Apr 2014 00:00:00 +0530 Sun, 20 Apr 2014 14:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246258 The High Court set aside the Tribunal's order disallowing the appellant's deduction claim under Section 37 of the Income Tax Act, 1961. The Court directed a fresh consideration focusing on the claim under Section 48, emphasizing that the expenditure was linked to the transfer of shares. The appellant was barred from claiming deduction under Section 37, with the matter remanded for review on merits. Substantial legal questions were left unaddressed, and no costs were awarded, disposing of the appeal with directions for further proceedings. Case-Laws Income Tax Fri, 04 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246258