https://www.taxtmi.com/caselaws?id=245524 The Tribunal allowed the assessees' appeals, permitting them to claim the indexed cost of acquisition from 1986 onwards instead of 2003 as determined by the Assessing Officer. The Tribunal held that the assessees' rights to specific flats had accrued in 1986 itself, not in 2003. It was clarified that the modification agreement altered only the allocation of floors, not the assessees' rights, affirming their entitlement to the earlier year for calculating capital gains. Additionally, the Tribunal set aside the Commissioner of Income Tax's order under section 263 due to an incorrect determination of the year of acquisition for one of the assessees. en-us Fri, 07 Mar 2014 00:00:00 +0530 Tue, 01 Apr 2014 15:50:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245524 The Tribunal allowed the assessees' appeals, permitting them to claim the indexed cost of acquisition from 1986 onwards instead of 2003 as determined by the Assessing Officer. The Tribunal held that the assessees' rights to specific flats had accrued in 1986 itself, not in 2003. It was clarified that the modification agreement altered only the allocation of floors, not the assessees' rights, affirming their entitlement to the earlier year for calculating capital gains. Additionally, the Tribunal set aside the Commissioner of Income Tax's order under section 263 due to an incorrect determination of the year of acquisition for one of the assessees. Case-Laws Income Tax Fri, 07 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245524