https://www.taxtmi.com/caselaws?id=213185 The High Court held that using the fair market value as on March 31, 1989, for reverse indexation to determine the value of disputed jewellery as on April 1, 1974, was appropriate. The court directed the Assessing Officer to recalculate capital gains based on this valuation, allowing the appeal and ruling in favor of the assessee due to the substantial error in not utilizing the correct valuation date. en-us Mon, 30 Apr 2012 00:00:00 +0530 Sat, 12 May 2012 08:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213185 The High Court held that using the fair market value as on March 31, 1989, for reverse indexation to determine the value of disputed jewellery as on April 1, 1974, was appropriate. The court directed the Assessing Officer to recalculate capital gains based on this valuation, allowing the appeal and ruling in favor of the assessee due to the substantial error in not utilizing the correct valuation date. Case-Laws Wealth-tax Mon, 30 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213185