https://www.taxtmi.com/caselaws?id=210214 The Tribunal upheld the CIT(A)'s order, dismissing the Revenue's appeal. It concluded that the reference to the DVO for determining the fair market value (FMV) as on the date of sale and as on 1.4.1981 was not legally sustainable. The Tribunal also upheld the allowance of the encumbrance claim, finding no force in the AO's reasoning for disallowance. en-us Fri, 06 May 2011 00:00:00 +0530 Wed, 25 Apr 2012 12:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210214 The Tribunal upheld the CIT(A)'s order, dismissing the Revenue's appeal. It concluded that the reference to the DVO for determining the fair market value (FMV) as on the date of sale and as on 1.4.1981 was not legally sustainable. The Tribunal also upheld the allowance of the encumbrance claim, finding no force in the AO's reasoning for disallowance. Case-Laws Income Tax Fri, 06 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210214