https://www.taxtmi.com/caselaws?id=204690 The Tribunal dismissed the appeal, upholding the Assessing Officer's decision on the computation of capital gains and the application of section 50C. It emphasized that the value adopted by the stamp duty authority under section 50C is valid, even if the actual receipt was lower. The Tribunal clarified that exemptions under section 54F should be calculated without extending the fiction created by section 50C. Additionally, it upheld the validity of the Assessing Officer's order under sections 143(3) and 147 of the Act. en-us Fri, 16 Jul 2010 00:00:00 +0530 Fri, 31 May 2013 13:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204690 The Tribunal dismissed the appeal, upholding the Assessing Officer's decision on the computation of capital gains and the application of section 50C. It emphasized that the value adopted by the stamp duty authority under section 50C is valid, even if the actual receipt was lower. The Tribunal clarified that exemptions under section 54F should be calculated without extending the fiction created by section 50C. Additionally, it upheld the validity of the Assessing Officer's order under sections 143(3) and 147 of the Act. Case-Laws Income Tax Fri, 16 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204690