https://www.taxtmi.com/caselaws?id=205973 The tribunal set aside the CIT(A)'s order on the recomputation of capital gains, determining the fair market value at Rs.2,50,000 as of 1-4-1981. The tribunal upheld the claim for the cost of construction of flats for tenants, leading to the deletion of the addition made by the AO. The tribunal remitted the matter back to the AO for reexamination in light of the decision on the fair market value issue. The appeal was partly allowed based on these decisions, emphasizing the importance of expert valuation and considering costs in property redevelopment for tenants in tax appeals. en-us Fri, 04 Mar 2011 00:00:00 +0530 Mon, 03 Oct 2011 18:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205973 The tribunal set aside the CIT(A)'s order on the recomputation of capital gains, determining the fair market value at Rs.2,50,000 as of 1-4-1981. The tribunal upheld the claim for the cost of construction of flats for tenants, leading to the deletion of the addition made by the AO. The tribunal remitted the matter back to the AO for reexamination in light of the decision on the fair market value issue. The appeal was partly allowed based on these decisions, emphasizing the importance of expert valuation and considering costs in property redevelopment for tenants in tax appeals. Case-Laws Income Tax Fri, 04 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205973