https://www.taxtmi.com/caselaws?id=773950 ITAT Pune held that when actual cost of asset is available, fair market value cannot be deducted from sale consideration to determine capital gains. However, since the assessment order was ex-parte and details regarding other co-owners were unavailable, the matter was restored to AO for fresh determination. The AO was directed to consider the position of all co-partners and decide according to facts and law after providing proper hearing opportunity to the assessee. Revenue's appeal was allowed for statistical purposes. en-us Wed, 30 Apr 2025 00:00:00 +0530 Tue, 01 Jul 2025 08:47:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773950 ITAT Pune held that when actual cost of asset is available, fair market value cannot be deducted from sale consideration to determine capital gains. However, since the assessment order was ex-parte and details regarding other co-owners were unavailable, the matter was restored to AO for fresh determination. The AO was directed to consider the position of all co-partners and decide according to facts and law after providing proper hearing opportunity to the assessee. Revenue's appeal was allowed for statistical purposes. Case-Laws Income Tax Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773950