https://www.taxtmi.com/caselaws?id=757771 ITAT Bangalore allowed assessee's appeal regarding higher cost of acquisition for capital gains computation. Assessee initially claimed Rs. 128.39 per share cost in return but later sought Rs. 184.09 during assessment proceedings. CIT(A) rejected the claim relying on Goetze (India) Ltd. judgment. ITAT held that appellate authorities can entertain fresh claims not made in original returns, citing Karnataka State Co-operative Federation Ltd. case. Matter remanded to AO for examining entitlement to higher acquisition cost with direction to provide reasonable hearing opportunity. en-us Tue, 13 Feb 2024 00:00:00 +0530 Mon, 02 Sep 2024 08:25:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757771 ITAT Bangalore allowed assessee's appeal regarding higher cost of acquisition for capital gains computation. Assessee initially claimed Rs. 128.39 per share cost in return but later sought Rs. 184.09 during assessment proceedings. CIT(A) rejected the claim relying on Goetze (India) Ltd. judgment. ITAT held that appellate authorities can entertain fresh claims not made in original returns, citing Karnataka State Co-operative Federation Ltd. case. Matter remanded to AO for examining entitlement to higher acquisition cost with direction to provide reasonable hearing opportunity. Case-Laws Income Tax Tue, 13 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757771