Distress Auction Sale of Mortgaged Property for Dues Triggers Capital Gains Tax on Owner
Distress Auction Sale of Mortgaged Property for Dues Triggers Capital Gains Tax on Owner Issue Whether capital gains tax liability under Section 45 of the Income-tax Act, 1961 arises on the owner when an equitably mortgaged immovable property is sold by a bank through a distress auction to recover third-party loan dues, even if the… Read More »