https://www.taxtmi.com/caselaws?id=429100 Compensation paid to cancel an earlier agreement to sell land may be deducted in computing capital gains when it is incurred to remove an impediment to transfer and secure clear title, but it is not treated as cost of improvement, so indexation is not available on that amount. Brokerage paid in connection with the completed sale is also allowable where the evidence supports that the services were rendered for effecting the transfer, and disallowance cannot rest only on timing of payment. The transaction-related deduction is therefore distinct from indexed cost computation. en-us Fri, 14 Oct 2022 00:00:00 +0530 Tue, 18 Oct 2022 08:51:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429100 Compensation paid to cancel an earlier agreement to sell land may be deducted in computing capital gains when it is incurred to remove an impediment to transfer and secure clear title, but it is not treated as cost of improvement, so indexation is not available on that amount. Brokerage paid in connection with the completed sale is also allowable where the evidence supports that the services were rendered for effecting the transfer, and disallowance cannot rest only on timing of payment. The transaction-related deduction is therefore distinct from indexed cost computation. Case-Laws Income Tax Fri, 14 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429100