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1994 (5) TMI 18 - HC - Income TaxExtract: .......R 880 (Ker), that the amount spent for discharge of the mortgage is not liable to be deducted in the computation of the capital gains under section 48. For the above reasons, the Commissioner of Income-tax was right in passing the order, exhibit P-6. The writ petitions are bereft of any merit. They are dismissed. There will be no order as to costs.
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