Compensation paid to Earlier Buyer to Cancel Agreement is Deductible Expenses u/s 48 for Capital Gains

CIT Vs Shakuntala Kantilal (Bombay High Court)

The issue under consideration is Whether compensation paid to earlier buyer to cancel the agreement is deductible expenditure u/s 48 for calculation of Capital Gains?

High Court states that, the section 48 broadly contemplates three amounts for the purpose of computing income chargeable under the head “Capital gain

Please become a Premium member. If you are already a Premium member, login here to access the full content.