https://www.taxtmi.com/caselaws?id=289731 The Tribunal determined that the property transfer occurred in the assessment year 2008-09, not 2009-10 as assessed by the officer. It held that the capital gain should not be assessed in the individual capacity of the assessee but rather in the status of the HUF due to joint ownership. Additionally, the Tribunal found the cost of acquisition estimation by the CIT(A) to be unfounded and directed the assessing officer to delete the capital gains assessment. As a result, the Tribunal allowed the appeal of the assessee, with the judgment issued on 2nd September 2015. en-us Wed, 02 Sep 2015 00:00:00 +0530 Wed, 19 Aug 2020 09:45:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289731 The Tribunal determined that the property transfer occurred in the assessment year 2008-09, not 2009-10 as assessed by the officer. It held that the capital gain should not be assessed in the individual capacity of the assessee but rather in the status of the HUF due to joint ownership. Additionally, the Tribunal found the cost of acquisition estimation by the CIT(A) to be unfounded and directed the assessing officer to delete the capital gains assessment. As a result, the Tribunal allowed the appeal of the assessee, with the judgment issued on 2nd September 2015. Case-Laws Income Tax Wed, 02 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289731