https://www.taxtmi.com/caselaws?id=15649 The High Court of Kerala determined that the repayment of a loan in connection with the transfer of property falls under section 45(2) of the Income-tax Act, 1961. The Tribunal's decision, allowing the loan repayment as an expenditure for computing capital gains, was overturned by the High Court. Citing Supreme Court precedents, the High Court held that the loan repayment was deductible as the cost of acquisition under section 48 of the Act. The judgment favored the Revenue, aligning with the Supreme Court's interpretations and emphasizing the importance of established case law in tax matters. en-us Thu, 30 Sep 1999 00:00:00 +0530 Wed, 26 Aug 2009 16:42:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15649 The High Court of Kerala determined that the repayment of a loan in connection with the transfer of property falls under section 45(2) of the Income-tax Act, 1961. The Tribunal's decision, allowing the loan repayment as an expenditure for computing capital gains, was overturned by the High Court. Citing Supreme Court precedents, the High Court held that the loan repayment was deductible as the cost of acquisition under section 48 of the Act. The judgment favored the Revenue, aligning with the Supreme Court's interpretations and emphasizing the importance of established case law in tax matters. Case-Laws Income Tax Thu, 30 Sep 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15649