https://www.taxtmi.com/caselaws?id=117511 The Tribunal partly allowed the assessee's appeal and partly allowed the revenue's appeal. It directed the Assessing Officer to compute the capital gain by working out the Fair Market Value (FMV) as on 31-3-1996 and to consider a valuation report from a government-approved valuer for determining the FMV. The Tribunal upheld the CIT(A)'s findings on the assessability of gain on sale of land and the disallowance of compensation payments. The issue of charging interest under sections 234A and 234B was directed to be consequential. en-us Tue, 31 May 2005 00:00:00 +0530 Sat, 23 Jun 2012 11:34:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117511 The Tribunal partly allowed the assessee's appeal and partly allowed the revenue's appeal. It directed the Assessing Officer to compute the capital gain by working out the Fair Market Value (FMV) as on 31-3-1996 and to consider a valuation report from a government-approved valuer for determining the FMV. The Tribunal upheld the CIT(A)'s findings on the assessability of gain on sale of land and the disallowance of compensation payments. The issue of charging interest under sections 234A and 234B was directed to be consequential. Case-Laws Income Tax Tue, 31 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117511