https://www.taxtmi.com/caselaws?id=399636 The Tribunal partially allowed the appeal, affirming that the amount received under the post decretal agreement constituted capital gains. However, the Tribunal permitted the deduction of certain expenses, including legal and watch and ward expenses, from the amount received to compute taxable capital gains. The decision underscored the necessity of accounting for relevant expenses in determining the fair tax liability assessment for such transactions. en-us Mon, 12 Oct 2020 00:00:00 +0530 Thu, 15 Oct 2020 14:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399636 The Tribunal partially allowed the appeal, affirming that the amount received under the post decretal agreement constituted capital gains. However, the Tribunal permitted the deduction of certain expenses, including legal and watch and ward expenses, from the amount received to compute taxable capital gains. The decision underscored the necessity of accounting for relevant expenses in determining the fair tax liability assessment for such transactions. Case-Laws Income Tax Mon, 12 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399636