https://www.taxtmi.com/caselaws?id=216547 The Tribunal partially allowed the appeal, directing the adoption of the cost of construction at Rs.1,300/- for determining short term capital gain on the sale of flats, in line with the cost accepted for long term capital gain calculation. The appellant's challenge to the computation of short term capital gain by the Assessing Officer was upheld, emphasizing the need to bifurcate consideration into land and building components for capital gains calculation. The Tribunal addressed discrepancies regarding the number of additional flats received from the developer and the allocation of profit from the sale of flats between the developer and the appellant. en-us Fri, 29 Jun 2012 00:00:00 +0530 Wed, 05 Sep 2012 16:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216547 The Tribunal partially allowed the appeal, directing the adoption of the cost of construction at Rs.1,300/- for determining short term capital gain on the sale of flats, in line with the cost accepted for long term capital gain calculation. The appellant's challenge to the computation of short term capital gain by the Assessing Officer was upheld, emphasizing the need to bifurcate consideration into land and building components for capital gains calculation. The Tribunal addressed discrepancies regarding the number of additional flats received from the developer and the allocation of profit from the sale of flats between the developer and the appellant. Case-Laws Income Tax Fri, 29 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216547