https://www.taxtmi.com/caselaws?id=27900 The court ruled against the assessee, emphasizing that only expenses directly incurred by the assessee for property improvement should be considered for calculating capital gains. Expenses borne by the firm or other partners should not be included. The court clarified that section 49 of the Income-tax Act did not apply as the property was self-acquired by the assessee. Each party was ordered to bear its own costs. en-us Tue, 31 Jan 1984 00:00:00 +0530 Tue, 16 Feb 2010 16:57:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27900 The court ruled against the assessee, emphasizing that only expenses directly incurred by the assessee for property improvement should be considered for calculating capital gains. Expenses borne by the firm or other partners should not be included. The court clarified that section 49 of the Income-tax Act did not apply as the property was self-acquired by the assessee. Each party was ordered to bear its own costs. Case-Laws Income Tax Tue, 31 Jan 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27900