https://www.taxtmi.com/caselaws?id=235531 The Appellate Tribunal upheld the CIT(A)'s decision to delete the addition in Long Term Capital Gain calculation, dismissing the Department's appeal. The Tribunal found alignment with established principles from prior case law, emphasizing adherence to valuation methodology based on the cost inflation index as of 1.4.1981. The decision highlighted the legal requirement for the Assessing Officer to demonstrate that the claimed value is less than the Fair Market Value before referencing the DVO. The judgment favored the assessee, citing consistency with legal principles and precedents, concluding on 10/07/2013. en-us Wed, 10 Jul 2013 00:00:00 +0530 Fri, 26 Jul 2013 13:34:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235531 The Appellate Tribunal upheld the CIT(A)'s decision to delete the addition in Long Term Capital Gain calculation, dismissing the Department's appeal. The Tribunal found alignment with established principles from prior case law, emphasizing adherence to valuation methodology based on the cost inflation index as of 1.4.1981. The decision highlighted the legal requirement for the Assessing Officer to demonstrate that the claimed value is less than the Fair Market Value before referencing the DVO. The judgment favored the assessee, citing consistency with legal principles and precedents, concluding on 10/07/2013. Case-Laws Income Tax Wed, 10 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235531