Compensation paid to lessee to vacant leased land to be allowed as deduction while computing capital gains: HC

INCOME TAX : Where assessee-company owned property which was given on lease and upon sale of said property, Assessing Officer disallowed compensation paid to lessee to vacate said land under section 48 holding same as non-genuine transaction, since reference to lease deed was found in registered sale deed and lessee had offered amount received by it as income in its return, existence of transaction could not be denied by Assessing Officer, and therefore

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