https://www.taxtmi.com/caselaws?id=435533 For capital gains under section 48, cost of acquisition may include amounts paid under a prior agreement to sell where the intermediary had an enforceable interest in the property. The record showed that the assessee paid through banking channels and that the Assessing Officer had examined the relevant materials before adopting a permissible view; on that basis, the Principal Commissioner could not invoke section 263 merely by relying on the sale deed recitals or by expanding the inquiry beyond the reassessment issue, so the revisionary order was unsustainable. en-us Mon, 20 Mar 2023 00:00:00 +0530 Wed, 22 Mar 2023 08:41:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435533 For capital gains under section 48, cost of acquisition may include amounts paid under a prior agreement to sell where the intermediary had an enforceable interest in the property. The record showed that the assessee paid through banking channels and that the Assessing Officer had examined the relevant materials before adopting a permissible view; on that basis, the Principal Commissioner could not invoke section 263 merely by relying on the sale deed recitals or by expanding the inquiry beyond the reassessment issue, so the revisionary order was unsustainable. Case-Laws Income Tax Mon, 20 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435533