https://www.taxtmi.com/caselaws?id=248239 The appeal challenged the CIT(A)'s order on Long Term Capital Gains determination under Sec. 50C of the I.T. Act. The ITAT directed the AO to refer the valuation to the DVO for fair market value assessment. Regarding fair market value adoption, the ITAT agreed to consider the property's value as on 01.04.1981 for calculating Long Term Capital Gains. Lastly, the ITAT instructed the AO to allow deduction u/s. 80C for tuition fees, alongside housing loan deduction, upon submission of necessary details. The appeal was allowed for statistical purposes, with the order issued in May 2014. en-us Fri, 16 May 2014 00:00:00 +0530 Fri, 06 Jun 2014 10:45:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248239 The appeal challenged the CIT(A)'s order on Long Term Capital Gains determination under Sec. 50C of the I.T. Act. The ITAT directed the AO to refer the valuation to the DVO for fair market value assessment. Regarding fair market value adoption, the ITAT agreed to consider the property's value as on 01.04.1981 for calculating Long Term Capital Gains. Lastly, the ITAT instructed the AO to allow deduction u/s. 80C for tuition fees, alongside housing loan deduction, upon submission of necessary details. The appeal was allowed for statistical purposes, with the order issued in May 2014. Case-Laws Income Tax Fri, 16 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248239