https://www.taxtmi.com/caselaws?id=66118 The tribunal allowed the appellant's appeal, canceling the assessment, as it determined that there was no capital gain to be assessed when considering the acquisition cost and sale consideration in US Dollars. The tribunal emphasized that capital gains should be computed in US Dollars to accurately reflect the financial implications, rejecting the conversion into rupee terms. This decision was influenced by the retrospective application of Rule 115A and Section 48 of the Income-tax Act, ultimately leading to the valuation of capital gains in US Dollars and the appellant's success in challenging the assessment. en-us Thu, 22 Jun 2000 00:00:00 +0530 Mon, 21 Feb 2011 16:26:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66118 The tribunal allowed the appellant's appeal, canceling the assessment, as it determined that there was no capital gain to be assessed when considering the acquisition cost and sale consideration in US Dollars. The tribunal emphasized that capital gains should be computed in US Dollars to accurately reflect the financial implications, rejecting the conversion into rupee terms. This decision was influenced by the retrospective application of Rule 115A and Section 48 of the Income-tax Act, ultimately leading to the valuation of capital gains in US Dollars and the appellant's success in challenging the assessment. Case-Laws Income Tax Thu, 22 Jun 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66118