https://www.taxtmi.com/caselaws?id=14597 The court interpreted the term "full value of consideration received or accruing" in Explanation 5 to section 54E of the Income-tax Act, 1961. It held that amounts paid for mortgage debt discharge should not be excluded from the net consideration eligible for relief under section 54E. The court emphasized that the term "full value of consideration" encompasses the total consideration received for the transfer, including amounts applied for debt discharge. The judgment favored the Revenue, ruling against the assessee without awarding costs. en-us Wed, 06 Oct 1999 00:00:00 +0530 Fri, 17 Jul 2009 13:35:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14597 The court interpreted the term "full value of consideration received or accruing" in Explanation 5 to section 54E of the Income-tax Act, 1961. It held that amounts paid for mortgage debt discharge should not be excluded from the net consideration eligible for relief under section 54E. The court emphasized that the term "full value of consideration" encompasses the total consideration received for the transfer, including amounts applied for debt discharge. The judgment favored the Revenue, ruling against the assessee without awarding costs. Case-Laws Income Tax Wed, 06 Oct 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14597