https://www.taxtmi.com/caselaws?id=377118 Where assessees could not prove the cost of inherited library materials as on 01.04.1981, the authorities were entitled to estimate the acquisition cost on the date of sale. Once cost was fixed on that basis, indexation under section 48 of the Income-tax Act, 1961 did not arise. The appellate estimate was held reasonable, and there was no basis to seek further enhancement in appeal. As the dispute rested on factual estimation of cost and not on any substantial question of law, no interference under section 260A was warranted. en-us Thu, 07 Mar 2019 00:00:00 +0530 Thu, 04 Apr 2019 18:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377118 Where assessees could not prove the cost of inherited library materials as on 01.04.1981, the authorities were entitled to estimate the acquisition cost on the date of sale. Once cost was fixed on that basis, indexation under section 48 of the Income-tax Act, 1961 did not arise. The appellate estimate was held reasonable, and there was no basis to seek further enhancement in appeal. As the dispute rested on factual estimation of cost and not on any substantial question of law, no interference under section 260A was warranted. Case-Laws Income Tax Thu, 07 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377118