https://www.taxtmi.com/caselaws?id=465117 The tribunal held that the transaction constituted a composite transfer in which the vendor, confirming parties and occupant collectively conveyed an unencumbered title, each relinquishing distinct rights in the property. Amounts paid directly by the purchaser to the confirming parties and occupant represented consideration for their independent capital assets and were not taxable as capital gains in the assessee's hands, being diverted by overriding title before accrual. Alternatively, such payments were "expenditure" under section 48, wholly and exclusively incurred in connection with the transfer, as removal of these encumbrances was indispensable to effect the sale. The additions made by AO and sustained by DRP were deleted. en-us Fri, 05 Jul 2024 00:00:00 +0530 Sat, 06 Dec 2025 18:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465117 The tribunal held that the transaction constituted a composite transfer in which the vendor, confirming parties and occupant collectively conveyed an unencumbered title, each relinquishing distinct rights in the property. Amounts paid directly by the purchaser to the confirming parties and occupant represented consideration for their independent capital assets and were not taxable as capital gains in the assessee's hands, being diverted by overriding title before accrual. Alternatively, such payments were "expenditure" under section 48, wholly and exclusively incurred in connection with the transfer, as removal of these encumbrances was indispensable to effect the sale. The additions made by AO and sustained by DRP were deleted. Case-Laws Income Tax Fri, 05 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465117