https://www.taxtmi.com/caselaws?id=62347 The Tribunal allowed the appeal, holding that the amount paid to KFC for discharging the mortgage was deductible under section 48(1)(a)(i) as expenditure incurred wholly and exclusively in connection with the transfer. The Tribunal left open the issues of the diversion of sale proceeds by overriding title and the determination of the cost of the asset as on 1st January 1964 for further consideration. en-us Thu, 31 Oct 1991 00:00:00 +0530 Wed, 19 Jan 2011 14:35:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62347 The Tribunal allowed the appeal, holding that the amount paid to KFC for discharging the mortgage was deductible under section 48(1)(a)(i) as expenditure incurred wholly and exclusively in connection with the transfer. The Tribunal left open the issues of the diversion of sale proceeds by overriding title and the determination of the cost of the asset as on 1st January 1964 for further consideration. Case-Laws Income Tax Thu, 31 Oct 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62347