This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Deuctibility of Cost of Furniture in Computation of Capital Gain on Property Sale
Case Law Details
- Case Name
- Shri Sachinder Mohan Mehta Vs ACIT (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Issue which arises for our consideration is whether Rs. 12 lakhs paid by the appellant assessee to the seller at the time of purchase of the property in question must be construed as a cost of acquisition of the asset so as to be deducted from the full value of consideration received by the appellant assessee at the time when he had sold and transferred the property in question. Section 48 of the Act stipulates the manner in which the capital gain shall be calculated. We reproduce the said Section as under:
“Section 48:
The income chargeable under the head capital gain...
