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2009 (6) TMI 6 - KERALA HIGH COURTSale of Capital Assets – Cost of improvement – property held by assessee was declared as capital goods by notification dated 6-1-2004 – date of acquisition was before 1-4-1981 - computation of capital gain under section 55(2) - the contention of the assessee that the value of the asset should be as on the date of the notification when it became a capital asset cannot be accepted - the valuation report of the expert was not accepted by the Tribunal. Admittedly the assessee did not seek any such reference either before the first appellate stage or before or before the Tribunal. It is only at the appellate tribunal stage that such a contention was raised. The appellate tribunal considered the matter and rejected the same. No substantial question of law, much less a substantial question of law arises for consideration in this appeal. We find no merit in the appeal and it is dismissed.
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