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1997 (7) TMI 6 - SC - Income Tax
Sale of house property - ITO computed the capital gains in respect of the said properties- assessee contended that the debts in respect of which mortgage had been executed were discharged by the buyer himself out of the sale proceeds, that the debts should be considered as increase in the cost of acquisition of the properties and that in any event the debts may be treated as improvement to the property or as the cost of obtaining clear title to the property - no referable question arise