https://www.taxtmi.com/caselaws?id=210079 The appeal was allowed for statistical purposes. The tribunal directed the Assessing Officer to recompute the capital gain by considering the full value of consideration as Rs. 2.50 crores and determining the cost of acquisition based on the market value of the lease rights as on 16-08-2004. The tribunal also clarified that the plot did not retain the character of agricultural land and Section 50C was not applicable to lease rights. en-us Fri, 13 May 2011 00:00:00 +0530 Tue, 14 Feb 2017 10:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210079 The appeal was allowed for statistical purposes. The tribunal directed the Assessing Officer to recompute the capital gain by considering the full value of consideration as Rs. 2.50 crores and determining the cost of acquisition based on the market value of the lease rights as on 16-08-2004. The tribunal also clarified that the plot did not retain the character of agricultural land and Section 50C was not applicable to lease rights. Case-Laws Income Tax Fri, 13 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210079