https://www.taxtmi.com/caselaws?id=61754 The Tribunal held that the value of route permits was not assessable to tax on capital gains if there was no cost of acquisition. It was determined that the sale proceeds constituted the value of the routes rather than just the buses. The Tribunal remanded the case to the ITO for a fresh assessment to determine if the assessee had improved the value of the route permits and to allocate a reasonable value for the permits. The appeal was treated as allowed in part, with instructions for further investigation by the ITO. en-us Wed, 29 Feb 1984 00:00:00 +0530 Fri, 14 Jan 2011 16:41:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61754 The Tribunal held that the value of route permits was not assessable to tax on capital gains if there was no cost of acquisition. It was determined that the sale proceeds constituted the value of the routes rather than just the buses. The Tribunal remanded the case to the ITO for a fresh assessment to determine if the assessee had improved the value of the route permits and to allocate a reasonable value for the permits. The appeal was treated as allowed in part, with instructions for further investigation by the ITO. Case-Laws Income Tax Wed, 29 Feb 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61754