https://www.taxtmi.com/caselaws?id=282499 The tribunal ruled in favor of the assessee regarding the computation of capital gains on a transferred asset acquired through gift, holding that the indexed cost of acquisition should be based on the previous owner's indexed cost. The tribunal also sided with the assessee on the addition made by the Assessing Officer on account of profit transferred due to client code changes, emphasizing the lack of evidence to support the allegation of profit shifting and highlighting that client code modifications did not necessarily indicate fraudulent activities. The tribunal upheld the decisions of the Commissioner of Income Tax (Appeals) based on legal precedents, ultimately dismissing the appeal. en-us Fri, 15 Sep 2017 00:00:00 +0530 Fri, 09 Aug 2019 18:31:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282499 The tribunal ruled in favor of the assessee regarding the computation of capital gains on a transferred asset acquired through gift, holding that the indexed cost of acquisition should be based on the previous owner's indexed cost. The tribunal also sided with the assessee on the addition made by the Assessing Officer on account of profit transferred due to client code changes, emphasizing the lack of evidence to support the allegation of profit shifting and highlighting that client code modifications did not necessarily indicate fraudulent activities. The tribunal upheld the decisions of the Commissioner of Income Tax (Appeals) based on legal precedents, ultimately dismissing the appeal. Case-Laws Income Tax Fri, 15 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282499