https://www.taxtmi.com/caselaws?id=117444 The Tribunal reversed the CIT(A)'s decision and upheld the Assessing Officer's position that the cost of acquisition for Detachable Warrants (DWs) was ascertainable. The Tribunal determined that the amount paid for acquiring both Non-Convertible Debentures (NCDs) and DWs should be considered the cost of acquisition for the DWs. The Tribunal found that the amendments to the Income Tax Act were not applicable in this case and ruled in favor of taxing the capital gains on the sale of DWs. en-us Tue, 19 Jul 2005 00:00:00 +0530 Fri, 22 Jun 2012 16:31:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117444 The Tribunal reversed the CIT(A)'s decision and upheld the Assessing Officer's position that the cost of acquisition for Detachable Warrants (DWs) was ascertainable. The Tribunal determined that the amount paid for acquiring both Non-Convertible Debentures (NCDs) and DWs should be considered the cost of acquisition for the DWs. The Tribunal found that the amendments to the Income Tax Act were not applicable in this case and ruled in favor of taxing the capital gains on the sale of DWs. Case-Laws Income Tax Tue, 19 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117444