https://www.taxtmi.com/caselaws?id=17772 A voluntary payment of the vendor's capital gains tax after the assessee had already obtained title under a registered sale deed was not deductible as revenue expenditure, because the tax liability arose only in the vendor's hands and the assessee was not the statutory debtor. The same payment also could not form part of the asset's actual cost for depreciation, because it neither acquired nor improved the property nor perfected title under sections 43(1) and 32. The reference questions were answered in favour of the Revenue, and no deduction or depreciation benefit was available. en-us Fri, 21 Jun 1996 00:00:00 +0530 Thu, 24 Sep 2009 16:42:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17772 A voluntary payment of the vendor's capital gains tax after the assessee had already obtained title under a registered sale deed was not deductible as revenue expenditure, because the tax liability arose only in the vendor's hands and the assessee was not the statutory debtor. The same payment also could not form part of the asset's actual cost for depreciation, because it neither acquired nor improved the property nor perfected title under sections 43(1) and 32. The reference questions were answered in favour of the Revenue, and no deduction or depreciation benefit was available. Case-Laws Income Tax Fri, 21 Jun 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17772