TMI Blog2020 (8) TMI 186X X X X Extracts X X X X X X X X Extracts X X X X ..... ely. We therefore are of the view that neither party s stand deserves to be accepted in entirety. We thus conclude that a lump sum cost of acquisition on estimation basis of ₹ 3,00,000/- w.e.f. 01.04.1981 by adopting rule of thumb would meet the ends of justice. Both parties get part relief in same terms. Necessary computation including that of interest shall follow as per law keeping in min ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of assessee s capital asset acquired way back in the year 1957 and sold on 26.02.2012. 3. The assessee sought to place reliance on a registered valuer s report stating cost of acquisition as on 01.04.1981 at ₹ 60,54,687/- after adopting reverse indexation method. The said valuer appears to have been called by the learned Assessing Officer who failed to support his impugned valuation by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cost of acquisition on estimation basis of ₹ 3,00,000/- w.e.f. 01.04.1981 by adopting rule of thumb would meet the ends of justice. Both parties get part relief in same terms. Necessary computation including that of interest shall follow as per law keeping in mind hon'ble jurisdictional high court s decision in Ajay Prakash Verma vs. ITO (2010) TA No. 38 of 2010 reported in 2013(1) TMI ..... X X X X Extracts X X X X X X X X Extracts X X X X
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