Case Law Details
Case Name : AIG Offshore Systems Services Inc. Vs ACIT (ITAT Mumbai)
Related Assessment Year : 2010-11
Courts :
All ITAT ITAT Mumbai
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AIG Offshore Systems Services Inc. Vs ACIT (ITAT Mumbai)
Conclusion: Legal and professional fees paid in connection with the transfer of shares was allowable as deduction from long term capital gain under section 48(i) as the expenditure incurred was wholly and exclusively in connection with the transfer of shares of the Indian Subsidiary.
Held: In the present case, in the relevant previous year, assessee had transferred / sold shares of its Indian Subsidi
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