https://www.taxtmi.com/caselaws?id=207156 The Tribunal partly allowed the appeal, ruling in favor of the appellant on the issues related to the applicability of section 51 and the computation of capital gains based on the cost inflation index. The appellant's contentions regarding the proper opportunity provided by the CIT (A) and the allowance of genuine expenditure against capital gains were not upheld. The Tribunal directed the Assessing Officer to accept the appellant's plea on the disallowance of genuine expenditure, using the cost inflation index calculated by the appellant for determining capital gains. en-us Tue, 30 Aug 2011 00:00:00 +0530 Fri, 04 Nov 2011 18:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207156 The Tribunal partly allowed the appeal, ruling in favor of the appellant on the issues related to the applicability of section 51 and the computation of capital gains based on the cost inflation index. The appellant's contentions regarding the proper opportunity provided by the CIT (A) and the allowance of genuine expenditure against capital gains were not upheld. The Tribunal directed the Assessing Officer to accept the appellant's plea on the disallowance of genuine expenditure, using the cost inflation index calculated by the appellant for determining capital gains. Case-Laws Income Tax Tue, 30 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207156