https://www.taxtmi.com/caselaws?id=377227 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision in favor of the assessee regarding the computation of capital gains on the sale of inherited property. The dispute centered around the indexed cost of acquisition, with the Tribunal ruling in line with precedents such as CIT v. Manjula J. Shah. The interpretation of Explanation (iii) to section 48 of the Income Tax Act 1961 favored the assessee, leading to the dismissal of the Revenue's appeal. The judgment emphasized consistency with legal precedents and statutory provisions in determining the correct application of indexed cost of acquisition for computing capital gains. en-us Mon, 18 Feb 2019 00:00:00 +0530 Tue, 26 Mar 2019 11:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377227 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision in favor of the assessee regarding the computation of capital gains on the sale of inherited property. The dispute centered around the indexed cost of acquisition, with the Tribunal ruling in line with precedents such as CIT v. Manjula J. Shah. The interpretation of Explanation (iii) to section 48 of the Income Tax Act 1961 favored the assessee, leading to the dismissal of the Revenue's appeal. The judgment emphasized consistency with legal precedents and statutory provisions in determining the correct application of indexed cost of acquisition for computing capital gains. Case-Laws Income Tax Mon, 18 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377227