Q1. If a capital asset such as a residential house is acquired after a long legal suit, can the assessee avail the expenses incurred for the lawyers fees etc under the expenses for transfer in computation of capital gain? Does Limitation act 1963 applies here?
Q2. If an assessee deposited the long term capital gain amount in infrastructure bond REC u/s 54EC, what will be the treatment of the principal amount received at maturty of the bond (interest is taxable)?
More questions will come..............
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