https://www.taxtmi.com/caselaws?id=436444 The Tribunal upheld the CIT(Appeals) decision to delete an addition of Rs.2,24,25,380/- made by the Assessing Officer under Section 43CA of the Income Tax Act, 1961. The Tribunal agreed that the expenses claimed by the assessee for stamp duty and registration fees were allowable deductions as they were incurred for business purposes and the properties were sold at market value, with full consideration received. The Tribunal found no merit in the Assessing Officer's application of Section 43CA and supported the CIT(Appeals)'s findings, ultimately dismissing the revenue's appeal. en-us Mon, 10 Apr 2023 00:00:00 +0530 Thu, 13 Apr 2023 07:59:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436444 The Tribunal upheld the CIT(Appeals) decision to delete an addition of Rs.2,24,25,380/- made by the Assessing Officer under Section 43CA of the Income Tax Act, 1961. The Tribunal agreed that the expenses claimed by the assessee for stamp duty and registration fees were allowable deductions as they were incurred for business purposes and the properties were sold at market value, with full consideration received. The Tribunal found no merit in the Assessing Officer's application of Section 43CA and supported the CIT(Appeals)'s findings, ultimately dismissing the revenue's appeal. Case-Laws Income Tax Mon, 10 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436444