https://www.taxtmi.com/caselaws?id=785865 Conversion of tenancy right into ownership was held to create a valuable right whose market value on the date of surrender constitutes the cost of acquisition for capital gains purposes; accordingly ITAT directed the assessing officer to compute cost of acquisition as the fair market value of the flats received in exchange and to recompute capital gains. The tribunal rejected the assessee's claims for capital gains exemptions under the relevant exemption provisions because the assessee failed to substantiate entitlement by producing required supporting documents. en-us Tue, 06 Jan 2026 00:00:00 +0530 Mon, 02 Feb 2026 08:20:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785865 Conversion of tenancy right into ownership was held to create a valuable right whose market value on the date of surrender constitutes the cost of acquisition for capital gains purposes; accordingly ITAT directed the assessing officer to compute cost of acquisition as the fair market value of the flats received in exchange and to recompute capital gains. The tribunal rejected the assessee's claims for capital gains exemptions under the relevant exemption provisions because the assessee failed to substantiate entitlement by producing required supporting documents. Case-Laws Income Tax Tue, 06 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785865