https://www.taxtmi.com/caselaws?id=195405 The Tribunal dismissed the Revenue's appeals and the assessee's cross objection, upholding the CIT(Appeals) decisions. The capital gains from the sale of land were assessed in the hands of the assessee's wife, not the assessee, as the Department failed to prove extra consideration. The deduction of interest paid on a loan was allowed based on evidence, with legitimate expenses being deductible, but the full interest payment deduction was rejected due to the expense being incurred over multiple years. en-us Fri, 19 Mar 2010 00:00:00 +0530 Sat, 28 Oct 2017 17:11:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195405 The Tribunal dismissed the Revenue's appeals and the assessee's cross objection, upholding the CIT(Appeals) decisions. The capital gains from the sale of land were assessed in the hands of the assessee's wife, not the assessee, as the Department failed to prove extra consideration. The deduction of interest paid on a loan was allowed based on evidence, with legitimate expenses being deductible, but the full interest payment deduction was rejected due to the expense being incurred over multiple years. Case-Laws Income Tax Fri, 19 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195405