https://www.taxtmi.com/caselaws?id=62593 The tribunal partly allowed the appeal of the assessee in the case involving the computation of capital gains, valuation of land acquired, and levied interest amount. It held that the consideration first received before the award date should be the basis for computing capital gains. The tribunal valued the land at Rs. 20 per sq. yd. The interest amount was ruled to be taxed in the subsequent assessment year, following the Supreme Court's decision in Rama Bai v. CIT [1990] 181 ITR 400. en-us Fri, 07 Jul 1995 00:00:00 +0530 Thu, 20 Jan 2011 16:18:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62593 The tribunal partly allowed the appeal of the assessee in the case involving the computation of capital gains, valuation of land acquired, and levied interest amount. It held that the consideration first received before the award date should be the basis for computing capital gains. The tribunal valued the land at Rs. 20 per sq. yd. The interest amount was ruled to be taxed in the subsequent assessment year, following the Supreme Court's decision in Rama Bai v. CIT [1990] 181 ITR 400. Case-Laws Income Tax Fri, 07 Jul 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62593