1980 (3) TMI 175

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....aid by the assessee to get vacant possession of the property should be allowed as deduction in terms of s. 48(1) of the IT Act, 1961 while computing the income from capital gains. 2. The assessee is a fruit merchant. During the asst. yr. 1977-78 he sold a shop building situate at Victoria St., Salem for a sum of Rs. 60,000. Immediately before sale the property was in the occupation of a tenant wh....

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....d given vacant possession of the property to the vendee. However, in more than one place in the agreement there is a reference to the fact that the assessee should give possession of the property without any encumbrance and without any dispute. This can be interpreted as the assessee agreed to give the vacant possession of the property to the vendee. 4. Sec. 48(1) contemplates that in computing t....