https://www.taxtmi.com/caselaws?id=206506 The Tribunal found that the transfer of the factory building constituted a taxable event under the Income-tax Act, resulting in a short-term capital gain. The fair market value of the building was determined to be Rs. 86,15,894, excluding the land value, leading to a revised capital gain of Rs. 51,51,149. The appeal was partly allowed, directing the Assessing Officer to recalculate the capital gain based on the revised valuation. en-us Thu, 07 Oct 2010 00:00:00 +0530 Sat, 06 Aug 2011 12:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206506 The Tribunal found that the transfer of the factory building constituted a taxable event under the Income-tax Act, resulting in a short-term capital gain. The fair market value of the building was determined to be Rs. 86,15,894, excluding the land value, leading to a revised capital gain of Rs. 51,51,149. The appeal was partly allowed, directing the Assessing Officer to recalculate the capital gain based on the revised valuation. Case-Laws Income Tax Thu, 07 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206506