Capital Asset Transfer Costs Deductible u/s 48; Lease Canceled in 2009 Qualifies for Deduction.

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....Expenditure incurred in connection with transfer of the capital asset - As pertinent to note that lease deed was executed in the year 1996 in favour of the lessee and was cancelled in the year 2009 after a period of 13 years. The reference to the lease deed is found even in the registered sale deed dated 13.05.2009. The lessee had offered the amount received by it as income in its return. The amount was paid by the assessee and was an expenditure incurred wholly and exclusively for transfer of an asset and therefore, it is deductible u/s 48 - HC....