https://www.taxtmi.com/caselaws?id=247503 The Tribunal allowed the appeals for statistical purposes, ruling in favor of the assessees on the issues of Long Term Capital Gain, Inheritance, Cost of Acquisition, and Capital Gains Computation for the assessment year 2008-09. The Tribunal directed the Assessing Officer to determine the cost of acquisition based on fair market value as of 01.04.1981 or accept the valuation report provided by the assessee, emphasizing that consideration for surrendering inherited rights falls under capital gains tax. en-us Wed, 30 Apr 2014 00:00:00 +0530 Wed, 14 May 2014 08:33:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247503 The Tribunal allowed the appeals for statistical purposes, ruling in favor of the assessees on the issues of Long Term Capital Gain, Inheritance, Cost of Acquisition, and Capital Gains Computation for the assessment year 2008-09. The Tribunal directed the Assessing Officer to determine the cost of acquisition based on fair market value as of 01.04.1981 or accept the valuation report provided by the assessee, emphasizing that consideration for surrendering inherited rights falls under capital gains tax. Case-Laws Income Tax Wed, 30 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247503