https://www.taxtmi.com/caselaws?id=233565 The Appellate Tribunal upheld the decisions of the Commissioner of Income Tax (Appeals) and dismissed the Revenue's appeal. The Tribunal determined the fair market value of a property as the cost of acquisition for computing long term capital gains, considering the inheritance history dating back before 01.04.1981. Additionally, the Tribunal ruled in favor of the assessee regarding the application of the cost inflation index from 01.04.1981 onwards, rejecting the Revenue's arguments for a restricted application from the date of acquisition by the current owner. en-us Fri, 15 Feb 2013 00:00:00 +0530 Sat, 04 May 2013 18:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233565 The Appellate Tribunal upheld the decisions of the Commissioner of Income Tax (Appeals) and dismissed the Revenue's appeal. The Tribunal determined the fair market value of a property as the cost of acquisition for computing long term capital gains, considering the inheritance history dating back before 01.04.1981. Additionally, the Tribunal ruled in favor of the assessee regarding the application of the cost inflation index from 01.04.1981 onwards, rejecting the Revenue's arguments for a restricted application from the date of acquisition by the current owner. Case-Laws Income Tax Fri, 15 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233565