Dispute Over Share Sale Tax Deduction: Appellant Can Only Deduct 50% u/s 48 of Income Tax Act.

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....Capital gain computation - sale of shares - full value of consideration - deduction of expenses u/s 48 - The appellant had agreed to pay the tax component as per Clause 7(1) of the share purchase agreement. - A careful perusal of the agreement shows that intention of the parties is clear to the effect that the value of the shares shall be the amount agreed between the parties excluding the tax component. However, the contention urged by Shri Aravind that tax component should be distributed among both sellers merits consideration. Therefore, appellant shall be entitled for deduction of only 50% of the tax component proportionate to her share holding. - HC....