https://www.taxtmi.com/caselaws?id=221199 The Tribunal partly allowed the taxpayer's appeal, remitting the fair market value issue back to the assessing officer for reconsideration. However, the exemptions under sections 54, 54F, and 54EC were denied, along with the rejection of the indexed cost of improvement claim. The Tribunal emphasized the importance of considering all relevant factors in determining fair market value and upheld the legislative requirement of depositing the amount in a capital gain bond for claiming exemptions. en-us Fri, 21 Dec 2012 00:00:00 +0530 Wed, 20 Feb 2013 11:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221199 The Tribunal partly allowed the taxpayer's appeal, remitting the fair market value issue back to the assessing officer for reconsideration. However, the exemptions under sections 54, 54F, and 54EC were denied, along with the rejection of the indexed cost of improvement claim. The Tribunal emphasized the importance of considering all relevant factors in determining fair market value and upheld the legislative requirement of depositing the amount in a capital gain bond for claiming exemptions. Case-Laws Income Tax Fri, 21 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221199