https://www.taxtmi.com/caselaws?id=360459 The Tribunal upheld the CIT(A)'s decision, affirming that payments to M/s. Kwality Frozen Foods Pvt. Ltd. and M/s. Magnum Holdings Pvt. Ltd. were necessary for the property transfer and deductible under section 48(i) of the Income Tax Act. The Tribunal dismissed the Revenue's appeal, affirming the direction to compute LTCG at Rs. 65,00,000 and allowing the payments made to the mentioned entities. en-us Tue, 15 May 2018 00:00:00 +0530 Thu, 17 May 2018 00:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360459 The Tribunal upheld the CIT(A)'s decision, affirming that payments to M/s. Kwality Frozen Foods Pvt. Ltd. and M/s. Magnum Holdings Pvt. Ltd. were necessary for the property transfer and deductible under section 48(i) of the Income Tax Act. The Tribunal dismissed the Revenue's appeal, affirming the direction to compute LTCG at Rs. 65,00,000 and allowing the payments made to the mentioned entities. Case-Laws Income Tax Tue, 15 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360459