https://www.taxtmi.com/caselaws?id=62885 The Tribunal ruled that Section 49(1)(iii)(b) of the Income-tax Act did not apply, determining that the cost of acquisition for computing capital gains should be the revalued cost at dissolution. The firm was classified as a new partnership firm distinct from the dissolved firm, with the Tribunal emphasizing legal principles and specific facts to support its decision. The department's appeal was dismissed, affirming the correctness of the assessee's capital gain computation. en-us Thu, 02 Jan 1992 00:00:00 +0530 Sat, 22 Jan 2011 14:13:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62885 The Tribunal ruled that Section 49(1)(iii)(b) of the Income-tax Act did not apply, determining that the cost of acquisition for computing capital gains should be the revalued cost at dissolution. The firm was classified as a new partnership firm distinct from the dissolved firm, with the Tribunal emphasizing legal principles and specific facts to support its decision. The department's appeal was dismissed, affirming the correctness of the assessee's capital gain computation. Case-Laws Income Tax Thu, 02 Jan 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62885