Relinquishment of tenancy right not chargeable to capital gain tax for A.Y. 1986-87, if Cost cannot be ascertained

HIGH COURT OF GUJARAT Amora Chemicals (P.) Ltd. Versus Commissioner of Income-tax IT REFERENCE NO. 5 OF 2002 AUGUST 28, 2012 JUDGMENT Akil Kureshi, J.  In this reference, Income Tax Appellate Tribunal (“the Tribunal” for short) has referred the following questions of law for the opinion of the High Court. “[1]  Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that there was cost of acquisition of tenancy rights and that valuation of the said rights being determinable, the computation provisions under the Act ...