https://www.taxtmi.com/caselaws?id=76025 The court ruled in favor of the appellant, allowing the suit to proceed and rejecting the argument that it was barred under the Benami Transaction (Prohibition) Act, 1986. The court upheld the Assessing Officer's decision to treat the Rs.4 Crores received as capital gain, as it was directly linked to the appellant's ownership claim. Additionally, the court allowed the appellant to deduct the entire indexed cost of acquisition against the Rs.4 Crores, overturning the Tribunal's decision. The appeal was partly allowed with no order as to costs. en-us Mon, 17 May 2010 00:00:00 +0530 Thu, 03 Jan 2013 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76025 The court ruled in favor of the appellant, allowing the suit to proceed and rejecting the argument that it was barred under the Benami Transaction (Prohibition) Act, 1986. The court upheld the Assessing Officer's decision to treat the Rs.4 Crores received as capital gain, as it was directly linked to the appellant's ownership claim. Additionally, the court allowed the appellant to deduct the entire indexed cost of acquisition against the Rs.4 Crores, overturning the Tribunal's decision. The appeal was partly allowed with no order as to costs. Case-Laws Income Tax Mon, 17 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76025