https://www.taxtmi.com/caselaws?id=38248 The court upheld the Tribunal's decision to allow the capital loss of Rs. 90,753 to the assessee. It affirmed that the cost of acquisition for the ginning factory acquired through partial partition of a Hindu undivided family should be deemed at Rs. 1,25,000, as per section 49(1) of the Income-tax Act. The court emphasized the application of specific provisions of the Act in unique acquisition scenarios and concluded that the assessee was entitled to the capital loss. en-us Wed, 25 Jan 1978 00:00:00 +0530 Mon, 05 Apr 2010 11:40:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38248 The court upheld the Tribunal's decision to allow the capital loss of Rs. 90,753 to the assessee. It affirmed that the cost of acquisition for the ginning factory acquired through partial partition of a Hindu undivided family should be deemed at Rs. 1,25,000, as per section 49(1) of the Income-tax Act. The court emphasized the application of specific provisions of the Act in unique acquisition scenarios and concluded that the assessee was entitled to the capital loss. Case-Laws Income Tax Wed, 25 Jan 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38248