https://www.taxtmi.com/caselaws?id=33859 For capital gains computation, the cost of acquisition was to be determined under the statutory scheme in Sections 45, 48 and 55(2)(b) of the Income-tax Act, so the relevant base date was 1.4.1981 and not 6.1.1994, when the asset was later notified as a capital asset; the assessee's contrary contention was rejected. The Tribunal also did not err in rejecting the expert valuation report, as no reference for such valuation had been sought before the lower authorities and the objection was raised only at the appellate stage. No substantial question of law arose, and the appeal failed. en-us Thu, 04 Jun 2009 00:00:00 +0530 Thu, 14 Jun 2012 16:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33859 For capital gains computation, the cost of acquisition was to be determined under the statutory scheme in Sections 45, 48 and 55(2)(b) of the Income-tax Act, so the relevant base date was 1.4.1981 and not 6.1.1994, when the asset was later notified as a capital asset; the assessee's contrary contention was rejected. The Tribunal also did not err in rejecting the expert valuation report, as no reference for such valuation had been sought before the lower authorities and the objection was raised only at the appellate stage. No substantial question of law arose, and the appeal failed. Case-Laws Income Tax Thu, 04 Jun 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33859