https://www.taxtmi.com/caselaws?id=19313 The court held that the full value of consideration for computing capital gains should be Rs. 83,700, rejecting the assessee's argument to reduce it by the sum covered by the charge in favor of his wife. The court also ruled that the amount adjusted from the sale consideration against liabilities should not be included in the cost of acquisition. It was determined that there was no diversion of income by overriding title. The decision favored the Revenue against the assessee, with no costs awarded, and the judgment was to be communicated to the Income-tax Appellate Tribunal, Cochin Bench. en-us Wed, 23 Nov 1994 00:00:00 +0530 Thu, 05 Nov 2009 13:18:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19313 The court held that the full value of consideration for computing capital gains should be Rs. 83,700, rejecting the assessee's argument to reduce it by the sum covered by the charge in favor of his wife. The court also ruled that the amount adjusted from the sale consideration against liabilities should not be included in the cost of acquisition. It was determined that there was no diversion of income by overriding title. The decision favored the Revenue against the assessee, with no costs awarded, and the judgment was to be communicated to the Income-tax Appellate Tribunal, Cochin Bench. Case-Laws Income Tax Wed, 23 Nov 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19313