https://www.taxtmi.com/caselaws?id=37496 The Court held that the sum paid under a compromise decree did not qualify as the cost of acquisition or improvement to the asset for computing capital gains. The Tribunal's decision allowing the deduction was overturned, emphasizing that the amount paid did not meet the criteria under relevant sections of the Income Tax Act. The Court distinguished between the cost of acquisition and improvement, ruling in favor of the revenue and clarifying the specific requirements for expenses to be deductible in capital gains computations. en-us Mon, 22 Jan 1979 00:00:00 +0530 Sat, 06 May 2017 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37496 The Court held that the sum paid under a compromise decree did not qualify as the cost of acquisition or improvement to the asset for computing capital gains. The Tribunal's decision allowing the deduction was overturned, emphasizing that the amount paid did not meet the criteria under relevant sections of the Income Tax Act. The Court distinguished between the cost of acquisition and improvement, ruling in favor of the revenue and clarifying the specific requirements for expenses to be deductible in capital gains computations. Case-Laws Income Tax Mon, 22 Jan 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37496