https://www.taxtmi.com/caselaws?id=256068 The Court allowed the appeals, quashed the Tribunal's order, and restored the order of the CIT(A) in favor of the appellants. The Court held that no capital gains could be levied on the appellants as the cost of acquisition based on the settlement amount was improper. The decision was based on the interpretation of the cost of acquisition for calculating capital gains on the transfer of beneficial interest in a trust, emphasizing that the Tribunal's decision to tax the capital gain was not justified. en-us Wed, 03 Dec 2014 00:00:00 +0530 Tue, 03 Feb 2015 06:02:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256068 The Court allowed the appeals, quashed the Tribunal's order, and restored the order of the CIT(A) in favor of the appellants. The Court held that no capital gains could be levied on the appellants as the cost of acquisition based on the settlement amount was improper. The decision was based on the interpretation of the cost of acquisition for calculating capital gains on the transfer of beneficial interest in a trust, emphasizing that the Tribunal's decision to tax the capital gain was not justified. Case-Laws Income Tax Wed, 03 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256068