https://www.taxtmi.com/caselaws?id=23670 The High Court of Bombay ruled in favor of the assessee, a limited company, allowing the deduction of sale expenses, including registration and stamp fees, and solicitors' fees, from the sale price for computing income under section 41(2) of the Income-tax Act. The court held that such expenses directly related to the sale should be admissible as deductions, emphasizing the need to reduce the sale price by expenses directly linked to the sale for determining the balancing charge. en-us Wed, 04 Oct 1989 00:00:00 +0530 Wed, 23 Dec 2009 11:31:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23670 The High Court of Bombay ruled in favor of the assessee, a limited company, allowing the deduction of sale expenses, including registration and stamp fees, and solicitors' fees, from the sale price for computing income under section 41(2) of the Income-tax Act. The court held that such expenses directly related to the sale should be admissible as deductions, emphasizing the need to reduce the sale price by expenses directly linked to the sale for determining the balancing charge. Case-Laws Income Tax Wed, 04 Oct 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23670