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Q. > Please Help: Capital Gain
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236 views • Question added May 26, 2017 • Income Tax • By Mustafa , CA , Kota


Mr A pledged his property to bank on behalf of the company against Term Loan. Due to the default by the company in discharging its loan liability bank has sold the property and recovered its loan amount in full. Whether Mr A has any liability under Capital Gain Tax based on the fact that he has not received any sales consideration and also he has given his property on the good faith to the company and he is not related to the company in any way?

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