Supreme Court · 1997 INSC 561 · Decided 9 July 1997
V.S.M.R. Jagdishchandran (Dead) BY LRS v. Commissioner of Income Tax, Madras
- Court
- Supreme Court of India
- Citation
- 1997 INSC 561 · [1997] SUPP. 2 S.C.R. 83
- Case number
- CIVIL APPEAL No. 4385/1997
- Decided
- 9 July 1997
- Bench
- S.C. AGRAWAL, D.P. WADHWA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 45, 48, 256
Headnote
JAGDISHCHANDRAN (DEAD) BY LRs. A v. COMMISSIONER OF INCOME TAX, MADRAS JULY 9, 1997 B [S.C. AGRAWAL AND D.P. WADHWA, .TJ.] Income tax : Capital Gai11s-<:omputatio11 of-Ded11ction1-'Cost of acquisition' or 'cost of improvement' of capital asset-Where the mmtgage was created by C the of improvement. Income Tax Act : Sections 45, 48 & 256(2 )-Reference-Questirm raised in assessee's application-Held, Assessee's applicaiio11 did not raise arguable question of law and High Cowt 1ightly rejected that applicatio11. D The assessee sold a house, subject to encumbrance and other
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