https://www.taxtmi.com/caselaws?id=28491 The High Court held that the cost of acquisition of the machinery for computing capital gains should be the written down value in Krishna Rao's hands, not the market value. The Tribunal's decision to use the market value was deemed incorrect. The Court relied on general principles due to the absence of specific statutory provisions and awarded costs in favor of the Department. en-us Wed, 24 Sep 1980 00:00:00 +0530 Tue, 23 Feb 2010 10:47:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28491 The High Court held that the cost of acquisition of the machinery for computing capital gains should be the written down value in Krishna Rao's hands, not the market value. The Tribunal's decision to use the market value was deemed incorrect. The Court relied on general principles due to the absence of specific statutory provisions and awarded costs in favor of the Department. Case-Laws Income Tax Wed, 24 Sep 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28491