https://www.taxtmi.com/caselaws?id=261695 The High Court upheld the Tribunal's decision to allow the entire legal and professional charges paid by the assessee to MIFL in calculating capital gains arising from a share transaction. The court emphasized that the expenditure incurred by the assessee for the sale of shares, including additional charges paid to MIFL, was wholly and exclusively in connection with the transfer, justifying the allowance of the entire consultancy charges. The judgment highlighted the relevance of Section 48 of the Income Tax Act in determining deductible expenses related to the transfer of capital assets and dismissed the appeal, affirming the Tribunal's decision. en-us Tue, 20 Jan 2015 00:00:00 +0530 Wed, 12 Aug 2015 17:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261695 The High Court upheld the Tribunal's decision to allow the entire legal and professional charges paid by the assessee to MIFL in calculating capital gains arising from a share transaction. The court emphasized that the expenditure incurred by the assessee for the sale of shares, including additional charges paid to MIFL, was wholly and exclusively in connection with the transfer, justifying the allowance of the entire consultancy charges. The judgment highlighted the relevance of Section 48 of the Income Tax Act in determining deductible expenses related to the transfer of capital assets and dismissed the appeal, affirming the Tribunal's decision. Case-Laws Income Tax Tue, 20 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261695