https://www.taxtmi.com/caselaws?id=399545 The High Court affirmed the Tribunal's decision, ruling that expenditure must be directly connected to the transfer of the capital asset to qualify for deduction under Section 48(i) of the Income Tax Act. The Court dismissed the appellant's claim for deduction of expenditure incurred in connection with the share transfer, emphasizing the requirement for a direct link between the expenditure and the share transfer to be eligible for deduction. en-us Thu, 01 Oct 2020 00:00:00 +0530 Tue, 13 Oct 2020 16:19:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399545 The High Court affirmed the Tribunal's decision, ruling that expenditure must be directly connected to the transfer of the capital asset to qualify for deduction under Section 48(i) of the Income Tax Act. The Court dismissed the appellant's claim for deduction of expenditure incurred in connection with the share transfer, emphasizing the requirement for a direct link between the expenditure and the share transfer to be eligible for deduction. Case-Laws Income Tax Thu, 01 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399545