https://www.taxtmi.com/caselaws?id=795132 Parity of reasoning required identical capital-gains treatment for co-owners of the same property where the Revenue had conclusively accepted in one co-owner's reassessment that the purchase and sale prices were identical and no gain arose. The other co-owner's sale consideration could not be taxed as short-term capital gains without allowing the corresponding cost of acquisition; the addition was deleted. The delay in filing the first appeal was condoned because an unrebutted affidavit established that the reassessment order and demand came to the taxpayer's attention only upon accessing the income-tax portal, constituting reasonable cause. en-us Tue, 17 Mar 2026 00:00:00 +0530 Fri, 17 Jul 2026 08:37:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795132 Parity of reasoning required identical capital-gains treatment for co-owners of the same property where the Revenue had conclusively accepted in one co-owner's reassessment that the purchase and sale prices were identical and no gain arose. The other co-owner's sale consideration could not be taxed as short-term capital gains without allowing the corresponding cost of acquisition; the addition was deleted. The delay in filing the first appeal was condoned because an unrebutted affidavit established that the reassessment order and demand came to the taxpayer's attention only upon accessing the income-tax portal, constituting reasonable cause. Case-Laws Income Tax Tue, 17 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795132