https://www.taxtmi.com/caselaws?id=290561 Amounts paid to workmen and a secured creditor to clear encumbrances on transferred property were treated as expenditure incurred wholly and exclusively in connection with the transfer and therefore deductible in computing capital gains. Commission paid for facilitating the sale was not allowed in full; only a reasonable allowance of 1% of the sale value was sustained. Business-loss and related expenditure claims required fresh examination on remand for reasonableness and statutory compliance. Interest earned on deposits from sale proceeds was assessed as income from other sources, not business income. en-us Fri, 17 Jun 2016 00:00:00 +0530 Tue, 06 Oct 2020 10:46:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290561 Amounts paid to workmen and a secured creditor to clear encumbrances on transferred property were treated as expenditure incurred wholly and exclusively in connection with the transfer and therefore deductible in computing capital gains. Commission paid for facilitating the sale was not allowed in full; only a reasonable allowance of 1% of the sale value was sustained. Business-loss and related expenditure claims required fresh examination on remand for reasonableness and statutory compliance. Interest earned on deposits from sale proceeds was assessed as income from other sources, not business income. Case-Laws Income Tax Fri, 17 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290561