https://www.taxtmi.com/caselaws?id=56830 Sale proceeds applied directly to discharge a mortgage were treated as diverted at source by overriding title, so that amount never became receivable by the transferor and was excluded from capital gains consideration; only the balance representing the assessee's equity of redemption was taxable, with capital gains to be recomputed accordingly and the related deduction under section 80T applied. Relief under section 54E was denied because the statutory deposit requirement was not complied with. en-us Wed, 15 Jan 1992 00:00:00 +0530 Mon, 06 Dec 2010 18:37:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56830 Sale proceeds applied directly to discharge a mortgage were treated as diverted at source by overriding title, so that amount never became receivable by the transferor and was excluded from capital gains consideration; only the balance representing the assessee's equity of redemption was taxable, with capital gains to be recomputed accordingly and the related deduction under section 80T applied. Relief under section 54E was denied because the statutory deposit requirement was not complied with. Case-Laws Income Tax Wed, 15 Jan 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56830