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2001 (10) TMI 14 - HC - Income TaxClaim for deduction of Rs. 23,000 in the computation of capital gain accrued on the transfer of the bungalow - The provisions of section 49(1)(i) are applicable to only that portion of the property which the assessee got as the assessee's share in the property of the larger Hindu undivided family and not in respect of the property or interest which was in excess of such share. since at the time of partial partition the assessee was not entitled to get the entire property valued at Rs. 67,000 as the assessee's share in the property of the larger Hindu undivided family and since the entire amount of Rs. 23,000 paid by the assessee to the larger Hindu undivided family pertained to the additional interest in the property, i.e., interest in addition to the interest allottable to the assessee at the time of partial partition quantified at Rs. 44,000, the Tribunal was right in allowing the said amount of Rs. 23,000 as cost of acquisition to the assessee for the additional interest under section 48 – deduction available
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