https://www.taxtmi.com/caselaws?id=70200 Route value attached to a bus was treated as a capital asset with ascertainable cost of acquisition, and it was not to be regarded as acquired free of cost merely because the seller included it in the bus sale price. For capital gains computation, the assessee could substitute the value as on 1 January 1954, and the Tribunal found the adopted valuation of Rs. 10,000 reasonable on the facts. The assessee therefore succeeded on valuation, leaving only that amount assessable as capital gains. en-us Fri, 31 Oct 1980 00:00:00 +0530 Thu, 14 Apr 2011 18:17:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70200 Route value attached to a bus was treated as a capital asset with ascertainable cost of acquisition, and it was not to be regarded as acquired free of cost merely because the seller included it in the bus sale price. For capital gains computation, the assessee could substitute the value as on 1 January 1954, and the Tribunal found the adopted valuation of Rs. 10,000 reasonable on the facts. The assessee therefore succeeded on valuation, leaving only that amount assessable as capital gains. Case-Laws Income Tax Fri, 31 Oct 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70200