https://www.taxtmi.com/caselaws?id=69461 The Tribunal upheld the reopening of assessment under s. 147, classified the land as non-agricultural for capital gains taxation, denied indexation for interest on borrowals, and allowed part of the interest on borrowed funds as cost of acquisition. The Tribunal directed the AO to re-examine the genuineness of interest payments and expenses, partly allowing the assessee's appeals and dismissing the Department's appeals. en-us Fri, 27 Jun 2008 00:00:00 +0530 Tue, 07 Aug 2012 11:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69461 The Tribunal upheld the reopening of assessment under s. 147, classified the land as non-agricultural for capital gains taxation, denied indexation for interest on borrowals, and allowed part of the interest on borrowed funds as cost of acquisition. The Tribunal directed the AO to re-examine the genuineness of interest payments and expenses, partly allowing the assessee's appeals and dismissing the Department's appeals. Case-Laws Income Tax Fri, 27 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69461