https://www.taxtmi.com/caselaws?id=437546 The Tribunal allowed the appeal in part. It directed the Assessing Officer to allow the brokerage and transfer charges as genuine expenses connected with the asset transfer, considering net sale consideration for capital gain calculation. However, the disallowance of excess interest paid was upheld, as borrowing funds at a higher interest rate for non-business purposes was deemed diversionary. en-us Mon, 03 Apr 2023 00:00:00 +0530 Mon, 08 May 2023 11:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437546 The Tribunal allowed the appeal in part. It directed the Assessing Officer to allow the brokerage and transfer charges as genuine expenses connected with the asset transfer, considering net sale consideration for capital gain calculation. However, the disallowance of excess interest paid was upheld, as borrowing funds at a higher interest rate for non-business purposes was deemed diversionary. Case-Laws Income Tax Mon, 03 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437546