https://www.taxtmi.com/caselaws?id=59295 The Tribunal upheld the Assessing Officer's computation of short-term capital gains, dismissing the assessee's appeal against the CIT(A)'s order. The case involved the application of amended provisions under section 55 introduced by the Finance Act, 1995, addressing the valuation of financial assets. The Tribunal clarified that the original cost of shares could not be spread over for computing capital gains on sales, affirming the revised legal position post the amendment. The judgment focused on the intricacies of cost of acquisition for financial assets and statutory amendments impacting the determination of short-term capital gains. en-us Thu, 16 Mar 2006 00:00:00 +0530 Sat, 30 Jun 2012 15:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59295 The Tribunal upheld the Assessing Officer's computation of short-term capital gains, dismissing the assessee's appeal against the CIT(A)'s order. The case involved the application of amended provisions under section 55 introduced by the Finance Act, 1995, addressing the valuation of financial assets. The Tribunal clarified that the original cost of shares could not be spread over for computing capital gains on sales, affirming the revised legal position post the amendment. The judgment focused on the intricacies of cost of acquisition for financial assets and statutory amendments impacting the determination of short-term capital gains. Case-Laws Income Tax Thu, 16 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59295