https://www.taxtmi.com/caselaws?id=446368 The ITAT Delhi allowed the assessee's appeal regarding capital gains computation. The Revenue questioned expenses for removal of encumbrances, accepting only Rs. 15 lakh paid to one party while disallowing other payments due to lack of corroboration. The ITAT found bank statements showed payments to multiple parties for encumbrance removal, reflecting ground realities where landowners pay compensation to unauthorized occupants for clean possession. Considering the socio-economic context and that expenses were incurred and accounted in the preceding financial year, the ITAT accepted the assessee's claim and reversed the disallowance made by the Assessing Officer. en-us Fri, 07 Jul 2023 00:00:00 +0530 Sat, 02 Dec 2023 08:44:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446368 The ITAT Delhi allowed the assessee's appeal regarding capital gains computation. The Revenue questioned expenses for removal of encumbrances, accepting only Rs. 15 lakh paid to one party while disallowing other payments due to lack of corroboration. The ITAT found bank statements showed payments to multiple parties for encumbrance removal, reflecting ground realities where landowners pay compensation to unauthorized occupants for clean possession. Considering the socio-economic context and that expenses were incurred and accounted in the preceding financial year, the ITAT accepted the assessee's claim and reversed the disallowance made by the Assessing Officer. Case-Laws Income Tax Fri, 07 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446368