Long-term capital gain - Determining the cost of acquisition as NIL - Admittedly, the primary onus lies...

Long-term capital gain - Determining the cost of acquisition as NIL - Admittedly, the primary onus lies upon the assessee to furnish the necessary details but in the event, the assessee fails to discharge the onus, it does not mean that the revenue can determine the income in arbitrarily manner. It is incumbent upon the revenue to calculate the income chargeable to tax in the manner provided under the statute. If the assessee failed to furnish the cost of acquisition, then the revenue was empowe..... .....

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