https://www.taxtmi.com/caselaws?id=33183 The High Court held that the assessee was entitled to claim Rs.14,33,000 as an additional cost of acquisition for computing capital gains. The Court found that the amount paid to their sons for acquiring their shares in the property should be considered as the cost of acquisition under the Income Tax Act. Additionally, the Court determined that the payment constituted an obligation for being allotted a 1/2 share instead of a 1/4th share in the property at the time of partition. The Court ruled in favor of the assessee, allowing the Tax Appeal and disposing of the Reference with no order as to costs. en-us Wed, 18 Mar 2009 00:00:00 +0530 Wed, 01 Sep 2010 16:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33183 The High Court held that the assessee was entitled to claim Rs.14,33,000 as an additional cost of acquisition for computing capital gains. The Court found that the amount paid to their sons for acquiring their shares in the property should be considered as the cost of acquisition under the Income Tax Act. Additionally, the Court determined that the payment constituted an obligation for being allotted a 1/2 share instead of a 1/4th share in the property at the time of partition. The Court ruled in favor of the assessee, allowing the Tax Appeal and disposing of the Reference with no order as to costs. Case-Laws Income Tax Wed, 18 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33183