https://www.taxtmi.com/caselaws?id=9424 The High Court upheld the Tribunal's decision, ruling that the income-tax authorities were not justified in including capital gains of Rs. 41,11,414 in the assessee's total income. The Court affirmed the application of the Supreme Court decision in CIT v. B.C. Srinivasa Setty and interpreted sections 48, 49, and 55 of the Income-tax Act. It was held that without an ascertainable cost of acquisition, the computation of capital gains was not feasible, leading to the deletion of the addition from the assessee's total income. en-us Thu, 09 Dec 2004 00:00:00 +0530 Mon, 22 Jun 2009 18:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9424 The High Court upheld the Tribunal's decision, ruling that the income-tax authorities were not justified in including capital gains of Rs. 41,11,414 in the assessee's total income. The Court affirmed the application of the Supreme Court decision in CIT v. B.C. Srinivasa Setty and interpreted sections 48, 49, and 55 of the Income-tax Act. It was held that without an ascertainable cost of acquisition, the computation of capital gains was not feasible, leading to the deletion of the addition from the assessee's total income. Case-Laws Income Tax Thu, 09 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9424