https://www.taxtmi.com/caselaws?id=241876 The appeal challenged the disallowance of Rs. 25 lakhs expenditure for releasing property rights and the application of section 50C to determine property market value. The ITAT upheld the decisions of the CIT(A), dismissing the appeal entirely. Legal precedents were cited to support the disallowance of expenditure related to encumbrances and the application of section 50C, emphasizing the need for concrete evidence in tax assessments. en-us Thu, 04 Jul 2013 00:00:00 +0530 Thu, 02 Jan 2014 12:57:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241876 The appeal challenged the disallowance of Rs. 25 lakhs expenditure for releasing property rights and the application of section 50C to determine property market value. The ITAT upheld the decisions of the CIT(A), dismissing the appeal entirely. Legal precedents were cited to support the disallowance of expenditure related to encumbrances and the application of section 50C, emphasizing the need for concrete evidence in tax assessments. Case-Laws Income Tax Thu, 04 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241876