https://www.taxtmi.com/caselaws?id=244900 The tribunal upheld the department's addition of Rs.1,52,90,250 as undisclosed income, directing verification for any excess addition. The Fair Market Value (FMV) of the property issue was remitted back to the Assessing Officer for proper inquiry. The tribunal allowed the deduction under Section 54F for contiguous residential flats, emphasizing the importance of corroborative evidence and proper valuation procedures in tax assessments. en-us Fri, 21 Feb 2014 00:00:00 +0530 Wed, 12 Mar 2014 15:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244900 The tribunal upheld the department's addition of Rs.1,52,90,250 as undisclosed income, directing verification for any excess addition. The Fair Market Value (FMV) of the property issue was remitted back to the Assessing Officer for proper inquiry. The tribunal allowed the deduction under Section 54F for contiguous residential flats, emphasizing the importance of corroborative evidence and proper valuation procedures in tax assessments. Case-Laws Income Tax Fri, 21 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244900