https://www.taxtmi.com/caselaws?id=382436 The Tax Case Appeals challenged the order of the Income Tax Appellate Tribunal regarding the acquisition of rights over shares and land by GCIPL. The Tribunal upheld the order of the CIT-A, confirming the acquisition. Additionally, the Tribunal deemed the payment to the escrow agent as a cost of improvement and allowed the expenditure for protecting and preserving land title. It also rejected the claim for interest expenses and bank charges, determining they were not related to the conversion of capital asset into stock-in-trade. The Tribunal dismissed the appeals, finding no substantial question of law. en-us Tue, 11 Jun 2019 00:00:00 +0530 Wed, 03 Jul 2019 08:11:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382436 The Tax Case Appeals challenged the order of the Income Tax Appellate Tribunal regarding the acquisition of rights over shares and land by GCIPL. The Tribunal upheld the order of the CIT-A, confirming the acquisition. Additionally, the Tribunal deemed the payment to the escrow agent as a cost of improvement and allowed the expenditure for protecting and preserving land title. It also rejected the claim for interest expenses and bank charges, determining they were not related to the conversion of capital asset into stock-in-trade. The Tribunal dismissed the appeals, finding no substantial question of law. Case-Laws Income Tax Tue, 11 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382436