https://www.taxtmi.com/caselaws?id=190773 The Revenue's appeal challenging the indexation on the cost of acquisition of tenancy rights under the Income Tax Act for the assessment year 2007-08 was dismissed. The Commissioner's decision to allow indexation based on the fair market value as of 1st April 1981 was upheld by the Tribunal. The cost of acquisition was deemed to be the same as that for which the previous owner had acquired the property, as the tenancy right was acquired before 1981. Therefore, the Revenue's appeal was rejected, and the Commissioner's order was affirmed. en-us Fri, 12 Sep 2014 00:00:00 +0530 Mon, 27 Feb 2017 10:58:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190773 The Revenue's appeal challenging the indexation on the cost of acquisition of tenancy rights under the Income Tax Act for the assessment year 2007-08 was dismissed. The Commissioner's decision to allow indexation based on the fair market value as of 1st April 1981 was upheld by the Tribunal. The cost of acquisition was deemed to be the same as that for which the previous owner had acquired the property, as the tenancy right was acquired before 1981. Therefore, the Revenue's appeal was rejected, and the Commissioner's order was affirmed. Case-Laws Income Tax Fri, 12 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190773