https://www.taxtmi.com/caselaws?id=57998 The Tribunal allowed the appeal in favor of the assessee, directing the ITO to accept the claim for deduction of Rs. 43,00,000 under section 48(i) of the Act in computing long-term capital gain. The Tribunal found the payments made to related parties for vacating premises were reasonable and necessary to avoid litigation, not a tax avoidance device. Relying on judicial precedents, the Tribunal held that the compensation was legitimate, supporting the assessee's position for the deduction. en-us Thu, 30 Aug 1990 00:00:00 +0530 Fri, 29 Jan 2016 16:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57998 The Tribunal allowed the appeal in favor of the assessee, directing the ITO to accept the claim for deduction of Rs. 43,00,000 under section 48(i) of the Act in computing long-term capital gain. The Tribunal found the payments made to related parties for vacating premises were reasonable and necessary to avoid litigation, not a tax avoidance device. Relying on judicial precedents, the Tribunal held that the compensation was legitimate, supporting the assessee's position for the deduction. Case-Laws Income Tax Thu, 30 Aug 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57998