https://www.taxtmi.com/caselaws?id=64385 The Tribunal upheld the Commissioner (Appeals)'s valuation of assets except for one land parcel, directing its value to align with gift-tax assessment principles. Regarding the land in the wife's name, the Tribunal found no injustice in accepting the declared value. Sales proceeds of a land portion were included in the assessment based on ownership and capital gains taxation, a decision upheld by the Tribunal. Seized cash was initially offered but later adjusted by the Department, leading to its deletion from the assessment unless unadjusted amounts were found. The appeals were partly allowed, contingent on the treatment of the seized cash. en-us Thu, 21 Apr 1988 00:00:00 +0530 Mon, 07 Feb 2011 15:54:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64385 The Tribunal upheld the Commissioner (Appeals)'s valuation of assets except for one land parcel, directing its value to align with gift-tax assessment principles. Regarding the land in the wife's name, the Tribunal found no injustice in accepting the declared value. Sales proceeds of a land portion were included in the assessment based on ownership and capital gains taxation, a decision upheld by the Tribunal. Seized cash was initially offered but later adjusted by the Department, leading to its deletion from the assessment unless unadjusted amounts were found. The appeals were partly allowed, contingent on the treatment of the seized cash. Case-Laws Income Tax Thu, 21 Apr 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64385