Assessee was co-owner of land which was sold vide registered sale deed and share of assessee was 30.93 per cent. The\u00a0 assessee claimed\u00a0 interest paid\u00a0 on security deposit to\u00a0 clearing encumbrance on property sold and compensation paid to SAE and BJT for vacating property. The AO disallowed the claim. Held that the\u00a0 nature of payment which had been claimed to be compensation to related parties was nothing but compensation made to self since 99 per cent of share\/shareholding is with co-owners including assessee. Accordingly the disallowance is affirmed (AY. 2005-06)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 48 : Capital gains-Computation-Compensation-Interest for clearance of encumbrance on land-99 per cent of shareholding of property was with co-owners-Compensation is made to self-Not allowable as deduction. [S. 45] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-34264","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-8UE","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34264","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=34264"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34264\/revisions"}],"predecessor-version":[{"id":34265,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34264\/revisions\/34265"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=34264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=34264"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=34264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}