Calcutta H.C : if the mortgage had been created by the previous owner and the assessee after inheriting the same had discharged the mortgage debt, the amount paid by the assessee for the purpose of clearing off the mortgage could be claimed as a part of cost of acquisition under Section 48 and Section 49 read with Section 55(2)

High Court Of Calcutta CIT vs. Aditya Kumar Jajodia Section 55(1)(b)(2)(ii), 45, 47, 49 Sanjib Banerjee & Abhijit Gangopadhyay, JJ. ITAT No. 114 of 2014 GA No. 2277 of 2014 20th July, 2018 Counsel appeared: Md. Nizamuddin, Adv. J. P. Khaitan, Sr. Adv. for the Petitioner THE COURT Two questions have been raised by the…

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