https://www.taxtmi.com/caselaws?id=402282 The High Court ruled against the Assessee in both issues, emphasizing that expenses incurred in connection with the transfer are deductible while computing capital gains. The court held that direct payment of sale proceeds to discharge mortgages does not entitle the Assessee to claim no capital gains due to non-receipt of consideration. The court relied on relevant legal provisions and precedents, dismissing the Assessee's claims and ruling in favor of the Revenue. en-us Mon, 21 Dec 2020 00:00:00 +0530 Sun, 27 Dec 2020 10:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402282 The High Court ruled against the Assessee in both issues, emphasizing that expenses incurred in connection with the transfer are deductible while computing capital gains. The court held that direct payment of sale proceeds to discharge mortgages does not entitle the Assessee to claim no capital gains due to non-receipt of consideration. The court relied on relevant legal provisions and precedents, dismissing the Assessee's claims and ruling in favor of the Revenue. Case-Laws Income Tax Mon, 21 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402282