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Income Tax - Highlights / Catch Notes

Home Highlights July 2016 Year 2016 This

Determination of capital gains - deduction u/s 48 - sale ...

Income Tax

July 9, 2016

Determination of capital gains - deduction u/s 48 - sale proceeds, to clear the mortgage debt - cost of acquisition - no deduction can be claimed under Section 48 of the Act, even if the said amount had been utilised for repayment of the loan extended by the bank to the company and the firm. - HC

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