Bengaluru ITAT Allows Success Fee as Transfer Expense Under Section 48

Mohan Rajashekar Vs ITO (ITAT Bangalore) Bengaluru ITAT: Success Fee Paid for Share Divestment Allowable Under Section 48; Advisory Services Need Not Constitute Brokerage or Agency The Bengaluru Bench of the ITAT held that a success fee paid to a financial adviser for facilitating the sale of shares is deductible under section 48(i) while computing capital gains, where the expenditure is incurred wholly and exclusively in connection with the transfer. The Tribunal observed that advisory services rendered for identifying investors, negotiating the transaction, coordinating due diligence, and ac...