https://www.taxtmi.com/caselaws?id=216981 The Tribunal upheld the CIT's decision to re-compute capital gains by applying the Cost Inflation Index from the year 2001-02, as per Explanation (iii) to Section 48 of the Income Tax Act. Additionally, the Tribunal supported the CIT's directive for the assessing officer to verify and include the additional amounts received for equipment and fittings in the capital gains computation, emphasizing the importance of providing reasons for conclusions in assessment orders to prevent errors and protect revenue interests. The assessee's appeal was dismissed. en-us Fri, 15 Jun 2012 00:00:00 +0530 Thu, 27 Sep 2012 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216981 The Tribunal upheld the CIT's decision to re-compute capital gains by applying the Cost Inflation Index from the year 2001-02, as per Explanation (iii) to Section 48 of the Income Tax Act. Additionally, the Tribunal supported the CIT's directive for the assessing officer to verify and include the additional amounts received for equipment and fittings in the capital gains computation, emphasizing the importance of providing reasons for conclusions in assessment orders to prevent errors and protect revenue interests. The assessee's appeal was dismissed. Case-Laws Income Tax Fri, 15 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216981