https://www.taxtmi.com/caselaws?id=29493 The court ruled in favor of the assessees in both groups concerning the application of section 52(2) under the Income Tax Act, 1961, regarding fair market value substitution. Expenses incurred to vacate tenants were allowed as deductions, deemed directly related to property transfer. However, the claim for deducting marriage expenses provision was disallowed, emphasizing that the obligation under the partition deed did not qualify as an allowable expenditure. The judgment clarified the interpretation and application of relevant provisions under the Act. en-us Tue, 05 Jan 1982 00:00:00 +0530 Sat, 13 Mar 2010 12:50:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29493 The court ruled in favor of the assessees in both groups concerning the application of section 52(2) under the Income Tax Act, 1961, regarding fair market value substitution. Expenses incurred to vacate tenants were allowed as deductions, deemed directly related to property transfer. However, the claim for deducting marriage expenses provision was disallowed, emphasizing that the obligation under the partition deed did not qualify as an allowable expenditure. The judgment clarified the interpretation and application of relevant provisions under the Act. Case-Laws Income Tax Tue, 05 Jan 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29493