https://www.taxtmi.com/caselaws?id=75536 The appeal challenged the assessing officer's capital gain assessment based on interest rate difference, with the Tribunal ultimately dismissing the appeal. The assessing officer's assumption of an 18% interest rate without evidence was deemed unfounded, leading to the conclusion that no consideration was received for the transfer of the capital asset. Additionally, the court ruled that the deemed interest charged below market value could not be considered as consideration for the grant of a lease in the capital gain computation. The appeal was dismissed in favor of the Revenue. en-us Wed, 23 Apr 2008 00:00:00 +0530 Thu, 31 Jan 2013 15:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75536 The appeal challenged the assessing officer's capital gain assessment based on interest rate difference, with the Tribunal ultimately dismissing the appeal. The assessing officer's assumption of an 18% interest rate without evidence was deemed unfounded, leading to the conclusion that no consideration was received for the transfer of the capital asset. Additionally, the court ruled that the deemed interest charged below market value could not be considered as consideration for the grant of a lease in the capital gain computation. The appeal was dismissed in favor of the Revenue. Case-Laws Income Tax Wed, 23 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75536