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2001 (10) TMI 5 - SC - Income Tax
Computation of Capital Gains - sale of the assessee's interest in the property - Tribunal and the High Court were in error. What was sold by the State at the auction was the immovable property that belonged to the assessee. The price that was realised therefor belonged to the assessee. From out of that price, the State deducted its dues towards "kist" and interest due from the assessee and paid over the balance to him - capital gains should be computed on the full price realised