Commissioner Of Income-Tax vs Shanthi Chandran And Anr. on 25 April, 1999
9. CIT Vs. Shanthi Chandran (supra) is a case where the question that
had fallen for consideration was whether in a family settlement analogous
to a partition cost to previous owner is to be taken into account as cost of
acquisition of shares and not the value mentioned in the family settlement
deed by the settler. The Hon'ble Court held in unequivocal terms that the
cost of acquisition means cost of acquisition but not the value mentioned
in the documents. Insofar as the tax law is concerned, it is not open for
any one to read into the section what is not to be found in that section or
to substitute the expressions with some other words. Cost of acquisition
means cost of acquisition but not the cost perceived by the mother at the
time of receiving the flat.