https://www.taxtmi.com/caselaws?id=249330 The Tribunal upheld the disallowances made by the AO and affirmed by the CIT(A) in the case. The disallowance of Banakhat cancellation charges and payments to landowners in the cost of transfer was upheld, as well as the disallowance of interest payments to partners and depositors as part of the cost of acquisition of land. The Tribunal concluded that these expenses were not allowable for computing long-term capital gains, dismissing all three appeals brought by the assessee. en-us Wed, 21 Mar 2012 00:00:00 +0530 Tue, 15 Jul 2014 06:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249330 The Tribunal upheld the disallowances made by the AO and affirmed by the CIT(A) in the case. The disallowance of Banakhat cancellation charges and payments to landowners in the cost of transfer was upheld, as well as the disallowance of interest payments to partners and depositors as part of the cost of acquisition of land. The Tribunal concluded that these expenses were not allowable for computing long-term capital gains, dismissing all three appeals brought by the assessee. Case-Laws Income Tax Wed, 21 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249330