Capital Gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 May 2011 In one case, assessee have entered in an agreement to sell with Mr.X. And after few years Mr.X transferred the said asset to Mr.B. Now ITO have raised the issue that since ownership is not transferred, sale consideration is taxable again in the hands of assessee. So, whether assessee claim such amount as Expenses wholly and exclusively in connected with transfer or not.

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
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20 May 2011 WHICH EXPENSES ARE U TALKING ABOUT
IF WITH THE AG TO SELL POSSESSION OF ASSET HAS ALREADY BEEN GIVEN TO MR X THEN IT IS X WHO IS LIB TO CG

CA MANOJ GUPTA
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