https://www.taxtmi.com/caselaws?id=175712 The Tribunal allowed the assessee's appeal in I.T.A.No.1397/Chd/2010, granting condonation of delay in filing the appeal due to sufficient cause. The Tribunal held that section 50 was not applicable to the capital gains as the asset was separately capitalized and no depreciation was claimed. The assessee was entitled to indexed cost of acquisition for computing long-term capital gains. However, the appeal in I.T.A.No.1398/Chd/2010 was dismissed, and the rectification u/s 154 was not granted as the issue raised was not a mistake apparent from the record. en-us Tue, 31 May 2011 00:00:00 +0530 Thu, 03 Dec 2015 15:00:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175712 The Tribunal allowed the assessee's appeal in I.T.A.No.1397/Chd/2010, granting condonation of delay in filing the appeal due to sufficient cause. The Tribunal held that section 50 was not applicable to the capital gains as the asset was separately capitalized and no depreciation was claimed. The assessee was entitled to indexed cost of acquisition for computing long-term capital gains. However, the appeal in I.T.A.No.1398/Chd/2010 was dismissed, and the rectification u/s 154 was not granted as the issue raised was not a mistake apparent from the record. Case-Laws Income Tax Tue, 31 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175712