https://www.taxtmi.com/caselaws?id=36503 Litigation expenses incurred to secure enhanced compensation in a compulsory acquisition are deductible under capital gains computation because compensation fixation is an integral part of the transfer, and the statutory phrase "wholly and exclusively in connection with the transfer" is broad enough to cover court proceedings that determine final consideration. The Tribunal could also entertain the assessee's claim even though it was raised for the first time in the departmental appeal, because the computation issue before it allowed consideration of the related deduction as part of proper capital gains assessment. en-us Thu, 19 Jun 1980 00:00:00 +0530 Mon, 22 Mar 2010 17:07:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36503 Litigation expenses incurred to secure enhanced compensation in a compulsory acquisition are deductible under capital gains computation because compensation fixation is an integral part of the transfer, and the statutory phrase "wholly and exclusively in connection with the transfer" is broad enough to cover court proceedings that determine final consideration. The Tribunal could also entertain the assessee's claim even though it was raised for the first time in the departmental appeal, because the computation issue before it allowed consideration of the related deduction as part of proper capital gains assessment. Case-Laws Income Tax Thu, 19 Jun 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36503