https://www.taxtmi.com/caselaws?id=253753 The appeal of the assessee was allowed by the Tribunal. The Tribunal directed the Assessing Officer to compute capital gains by adopting the cost of acquisition at Rs. 13,40,000 for two acres of land, based on the value of the asset as per the books on the date of transfer. Additionally, the Tribunal ruled that the addition of deemed dividend under Section 2(22)(e) of the Income Tax Act cannot be sustained as the conditions of the provision were not satisfied. Therefore, the Tribunal directed the Assessing Officer to delete the addition made, resulting in the appeal of the assessee being allowed. en-us Wed, 26 Nov 2014 00:00:00 +0530 Wed, 03 Dec 2014 10:16:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253753 The appeal of the assessee was allowed by the Tribunal. The Tribunal directed the Assessing Officer to compute capital gains by adopting the cost of acquisition at Rs. 13,40,000 for two acres of land, based on the value of the asset as per the books on the date of transfer. Additionally, the Tribunal ruled that the addition of deemed dividend under Section 2(22)(e) of the Income Tax Act cannot be sustained as the conditions of the provision were not satisfied. Therefore, the Tribunal directed the Assessing Officer to delete the addition made, resulting in the appeal of the assessee being allowed. Case-Laws Income Tax Wed, 26 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253753