THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. JOSE THOMAS
ITA/46/2020HC Kerala03 Apr 2024
Bench: HONOURABLE DR. JUSTICE A.K.JAYASANKARAN NAMBIAR,HONOURABLE MR. JUSTICE SYAM KUMAR V.M.
For Respondent: THE PRINCIPAL COMMISSIONER OF INCOME TAX
61 ITR 428 (SC)".
11.8
Thus, the conclusion of the Supreme Court is that an asset which is
capable of acquisition at a cost would be included within the provisions
pertaining to the head "Capital gains" as opposed to assets in the acquisition of
which no cost at all can be conceived. There was no cost of acquisition, which
