https://www.taxtmi.com/caselaws?id=235285 The tribunal partly allowed the assessee's appeal, restricting the disallowance under Section 14A to Rs. 50,000 for administrative expenses. It directed the AO to adopt the full value of consideration received by the assessee for re-computing capital gains. The tribunal also held that the AO cannot substitute fair market value for consideration without specific authorization. Additionally, it confirmed that forfeiture of share application money and receipt of leasehold land were capital receipts not taxable as income from other sources. The tribunal's decisions were based on legal principles and precedents, distinguishing between capital and revenue receipts. en-us Fri, 10 May 2013 00:00:00 +0530 Sat, 02 Apr 2016 15:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235285 The tribunal partly allowed the assessee's appeal, restricting the disallowance under Section 14A to Rs. 50,000 for administrative expenses. It directed the AO to adopt the full value of consideration received by the assessee for re-computing capital gains. The tribunal also held that the AO cannot substitute fair market value for consideration without specific authorization. Additionally, it confirmed that forfeiture of share application money and receipt of leasehold land were capital receipts not taxable as income from other sources. The tribunal's decisions were based on legal principles and precedents, distinguishing between capital and revenue receipts. Case-Laws Income Tax Fri, 10 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235285