https://www.taxtmi.com/caselaws?id=27903 The court ruled in favor of the assessee, a Hindu undivided family, in a case concerning the determination of the cost of acquisition of property for capital gains tax purposes. The court held that the cost of acquisition should be the expenses incurred by the transferors of the property to the HUF, amounting to Rs. 76,748, rather than nil as determined by the lower authorities. The court clarified that the cost of acquisition could be in someone else's hands, not necessarily the assessee's, as long as it was spent by the karta of the HUF. en-us Mon, 28 Nov 1983 00:00:00 +0530 Tue, 16 Feb 2010 17:03:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27903 The court ruled in favor of the assessee, a Hindu undivided family, in a case concerning the determination of the cost of acquisition of property for capital gains tax purposes. The court held that the cost of acquisition should be the expenses incurred by the transferors of the property to the HUF, amounting to Rs. 76,748, rather than nil as determined by the lower authorities. The court clarified that the cost of acquisition could be in someone else's hands, not necessarily the assessee's, as long as it was spent by the karta of the HUF. Case-Laws Income Tax Mon, 28 Nov 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27903