https://www.taxtmi.com/caselaws?id=777480 ITAT MUMBAI - AT held that the assessee's claim of ancestral ownership and one-third share was not adequately supported before the AO; capital gains must therefore be computed by considering only a 1/3 share and deducting indexed cost of acquisition from the consideration. The matter is restored to the AO for fresh adjudication after the assessee's submissions are considered. The appeal is allowed for statistical purposes. en-us Thu, 09 Jan 2025 00:00:00 +0530 Sat, 30 Aug 2025 08:31:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777480 ITAT MUMBAI - AT held that the assessee's claim of ancestral ownership and one-third share was not adequately supported before the AO; capital gains must therefore be computed by considering only a 1/3 share and deducting indexed cost of acquisition from the consideration. The matter is restored to the AO for fresh adjudication after the assessee's submissions are considered. The appeal is allowed for statistical purposes. Case-Laws Income Tax Thu, 09 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777480