https://www.taxtmi.com/caselaws?id=235071 The court dismissed the Department's appeal, affirming that 'Nirgam Mulya' should be excluded from the purchase price for income computation under section 44AC of the Income Tax Act. The judgment emphasized the importance of adhering to sections 28 to 43 for accurate income determination and upheld the validity and applicability of section 44AC in conjunction with other relevant provisions. The court deemed the appeal questions academic as the income had already been calculated in accordance with the specified sections, ultimately confirming the exclusion of 'Nirgam Mulya' from section 44AC calculations. en-us Thu, 25 Apr 2013 00:00:00 +0530 Wed, 10 Jul 2013 09:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235071 The court dismissed the Department's appeal, affirming that 'Nirgam Mulya' should be excluded from the purchase price for income computation under section 44AC of the Income Tax Act. The judgment emphasized the importance of adhering to sections 28 to 43 for accurate income determination and upheld the validity and applicability of section 44AC in conjunction with other relevant provisions. The court deemed the appeal questions academic as the income had already been calculated in accordance with the specified sections, ultimately confirming the exclusion of 'Nirgam Mulya' from section 44AC calculations. Case-Laws Income Tax Thu, 25 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235071