https://www.taxtmi.com/caselaws?id=28011 The High Court ruled in favor of the assessee, holding that the right of import entitlement obtained without any cost did not constitute taxable capital gains. The Court emphasized that assets acquired without cost cannot be taxed under the capital gains tax scheme, referencing relevant precedents. The parties were ordered to bear their own costs. Justice Suhas Chandra Sen concurred with the High Court's decision. en-us Mon, 12 Jul 1982 00:00:00 +0530 Wed, 17 Feb 2010 13:28:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28011 The High Court ruled in favor of the assessee, holding that the right of import entitlement obtained without any cost did not constitute taxable capital gains. The Court emphasized that assets acquired without cost cannot be taxed under the capital gains tax scheme, referencing relevant precedents. The parties were ordered to bear their own costs. Justice Suhas Chandra Sen concurred with the High Court's decision. Case-Laws Income Tax Mon, 12 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28011