Assessing Officer Confirms Long-Term Capital Gains u/s 48; Cannot Reassess Acquisition Costs Already Accepted.

Second round of litigation - Once Assessing Officer holds that the sale gives rise to taxability u/s 48 as long term capital gains, the matter ends there. It was no longer open to him to examine the details about cost of acquisition and cost of improvement which were examined and accepted in the first round. - AT .....

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