https://www.taxtmi.com/caselaws?id=151800 The Tribunal allowed the assessee's appeal, holding that the first proviso to section 48 was applicable. The capital gains were to be computed by converting the sale consideration and cost of acquisition into Deutsche Marks and then back to Indian Rupees. The cost of acquisition for the original shares was set at DM 2,17,175, for bonus shares issued before April 1, 1981, at the fair market value as of that date, and for the remaining bonus shares, as nil. The Revenue's appeal was dismissed, and the AO was instructed to recalculate the capital gains accordingly. en-us Wed, 15 Jun 2005 00:00:00 +0530 Mon, 17 Jun 2013 11:19:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151800 The Tribunal allowed the assessee's appeal, holding that the first proviso to section 48 was applicable. The capital gains were to be computed by converting the sale consideration and cost of acquisition into Deutsche Marks and then back to Indian Rupees. The cost of acquisition for the original shares was set at DM 2,17,175, for bonus shares issued before April 1, 1981, at the fair market value as of that date, and for the remaining bonus shares, as nil. The Revenue's appeal was dismissed, and the AO was instructed to recalculate the capital gains accordingly. Case-Laws Income Tax Wed, 15 Jun 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151800