https://www.taxtmi.com/caselaws?id=28604 In the case, the Tribunal held that the cost of acquisition of shares should be deducted in computing capital gains under section 46(2) of the Income-tax Act. The judgment clarified that the cost of acquisition must be deducted from the first distribution by the liquidator and set off against future distributions if it exceeds the distribution amount. Regarding the eligibility for deduction under section 80G for a donation to a specific trust, the matter was remitted to the Tribunal for reconsideration due to procedural issues. The assessee was awarded costs for succeeding on the main issue of the reference. en-us Wed, 14 Oct 1981 00:00:00 +0530 Wed, 24 Feb 2010 11:04:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28604 In the case, the Tribunal held that the cost of acquisition of shares should be deducted in computing capital gains under section 46(2) of the Income-tax Act. The judgment clarified that the cost of acquisition must be deducted from the first distribution by the liquidator and set off against future distributions if it exceeds the distribution amount. Regarding the eligibility for deduction under section 80G for a donation to a specific trust, the matter was remitted to the Tribunal for reconsideration due to procedural issues. The assessee was awarded costs for succeeding on the main issue of the reference. Case-Laws Income Tax Wed, 14 Oct 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28604