https://www.taxtmi.com/caselaws?id=436313 Compensation paid to cancel a JDA and related agreements was deductible under section 48 only to the extent it was wholly and exclusively connected with the transfer of the property actually sold; the amount had to be restricted proportionately by reference to the cancelled arrangements and the sale deed, so full allowance was denied. Indexed cost of improvement attributable to a building was not deductible where the documents showed transfer of land only and no registered transfer or inclusion of the superstructure in the transaction. The cited contrary authorities were distinguished on facts, and the Revenue succeeded on the building-related claim while obtaining only partial relief on the compensation claim. en-us Thu, 06 Apr 2023 00:00:00 +0530 Mon, 10 Apr 2023 08:56:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436313 Compensation paid to cancel a JDA and related agreements was deductible under section 48 only to the extent it was wholly and exclusively connected with the transfer of the property actually sold; the amount had to be restricted proportionately by reference to the cancelled arrangements and the sale deed, so full allowance was denied. Indexed cost of improvement attributable to a building was not deductible where the documents showed transfer of land only and no registered transfer or inclusion of the superstructure in the transaction. The cited contrary authorities were distinguished on facts, and the Revenue succeeded on the building-related claim while obtaining only partial relief on the compensation claim. Case-Laws Income Tax Thu, 06 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436313