https://www.taxtmi.com/caselaws?id=239492 The Tribunal partly allowed the Assessee's appeal for statistical purposes, upholding the reopening of the assessment and the application of Section 50C for computing capital gains. However, it directed the Assessing Officer to recompute long-term capital gains considering the proportionate exemption under Section 54EC(1)(b), emphasizing that an artificial split of transactions for better benefits is impermissible. The matter was remitted back to the Assessing Officer for proper computation in accordance with the law. en-us Thu, 02 May 2013 00:00:00 +0530 Fri, 15 Nov 2013 08:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239492 The Tribunal partly allowed the Assessee's appeal for statistical purposes, upholding the reopening of the assessment and the application of Section 50C for computing capital gains. However, it directed the Assessing Officer to recompute long-term capital gains considering the proportionate exemption under Section 54EC(1)(b), emphasizing that an artificial split of transactions for better benefits is impermissible. The matter was remitted back to the Assessing Officer for proper computation in accordance with the law. Case-Laws Income Tax Thu, 02 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239492