https://www.taxtmi.com/caselaws?id=22618 The High Court held in favor of the Revenue regarding the interpretation of 'actual cost' of assets acquired before 1962 under section 43(1) of the Income-tax Act, 1961. The Court directed a larger Bench to resolve the conflict on whether the Tribunal can entertain additional grounds raised for the first time in appeals, based on conflicting views in previous cases like Ugar Sugar Works Ltd. v. CIT and CED v. Bipinchandra N. Patel. The matter was referred to the Hon'ble Chief Justice for constitution of a larger Bench to address this issue. en-us Tue, 19 Feb 1991 00:00:00 +0530 Fri, 11 Dec 2009 14:14:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22618 The High Court held in favor of the Revenue regarding the interpretation of 'actual cost' of assets acquired before 1962 under section 43(1) of the Income-tax Act, 1961. The Court directed a larger Bench to resolve the conflict on whether the Tribunal can entertain additional grounds raised for the first time in appeals, based on conflicting views in previous cases like Ugar Sugar Works Ltd. v. CIT and CED v. Bipinchandra N. Patel. The matter was referred to the Hon'ble Chief Justice for constitution of a larger Bench to address this issue. Case-Laws Income Tax Tue, 19 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22618