https://www.taxtmi.com/caselaws?id=396159 The Tribunal upheld the CIT(A)'s decision to exclude invalid sale deeds from the computation of Long Term Capital Gains (LTCG), emphasizing the necessity of full consideration for land transfer. It allowed proportionate expenses related to land sale, citing existing structures as cost of improvement. The Tribunal upheld the allowance of expenses against interest and remuneration, emphasizing consistency. However, it remanded the matter of expenses claimed under Section 57 for fresh examination to establish a direct nexus with interest income. It allowed the inclusion of structures' costs in LTCG computation after indexation but disallowed legal and other expenses related to invalid deeds. en-us Thu, 18 Jun 2020 00:00:00 +0530 Tue, 09 Aug 2022 16:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396159 The Tribunal upheld the CIT(A)'s decision to exclude invalid sale deeds from the computation of Long Term Capital Gains (LTCG), emphasizing the necessity of full consideration for land transfer. It allowed proportionate expenses related to land sale, citing existing structures as cost of improvement. The Tribunal upheld the allowance of expenses against interest and remuneration, emphasizing consistency. However, it remanded the matter of expenses claimed under Section 57 for fresh examination to establish a direct nexus with interest income. It allowed the inclusion of structures' costs in LTCG computation after indexation but disallowed legal and other expenses related to invalid deeds. Case-Laws Income Tax Thu, 18 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396159