https://www.taxtmi.com/caselaws?id=20770 The court ruled in favor of the Revenue and against the assessee on the computation of capital gains and determination of the cost of shares, as both transactions were conducted in Indian rupees without the need for conversion to foreign currency. However, the court sided with the assessee on allowing consideration of additional grounds raised at the appellate stage. The judgment emphasized that conversion to foreign currency for computation is unnecessary when transactions are expressed in Indian rupees, highlighting the importance of the currency used in determining income. en-us Thu, 08 Apr 1993 00:00:00 +0530 Tue, 17 Nov 2009 11:28:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20770 The court ruled in favor of the Revenue and against the assessee on the computation of capital gains and determination of the cost of shares, as both transactions were conducted in Indian rupees without the need for conversion to foreign currency. However, the court sided with the assessee on allowing consideration of additional grounds raised at the appellate stage. The judgment emphasized that conversion to foreign currency for computation is unnecessary when transactions are expressed in Indian rupees, highlighting the importance of the currency used in determining income. Case-Laws Income Tax Thu, 08 Apr 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20770