https://www.taxtmi.com/caselaws?id=247854 The court allowed the application for condonation of delay, enabling the appeal to proceed. Regarding the treatment of the sum paid by the assessee, the court dismissed the Revenue's appeal, affirming that the sum could be considered as expenditure incurred in connection with the transfer under Section 48(i) of the Income Tax Act. The court relied on precedents emphasizing that the sum paid was indeed expended in connection with the transfer of the asset, contrary to the Revenue's argument based on a different precedent involving debt repayment. en-us Wed, 07 May 2014 00:00:00 +0530 Sun, 25 May 2014 12:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247854 The court allowed the application for condonation of delay, enabling the appeal to proceed. Regarding the treatment of the sum paid by the assessee, the court dismissed the Revenue's appeal, affirming that the sum could be considered as expenditure incurred in connection with the transfer under Section 48(i) of the Income Tax Act. The court relied on precedents emphasizing that the sum paid was indeed expended in connection with the transfer of the asset, contrary to the Revenue's argument based on a different precedent involving debt repayment. Case-Laws Income Tax Wed, 07 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247854