https://www.taxtmi.com/caselaws?id=260139 The Tribunal directed the AO to allow the indexed cost of the property based on the fair market value as of 01.04.1981 for capital gains calculation. It confirmed the applicability of Section 50C for determining sale consideration under Section 54 and upheld the disallowance of renovation costs for exemption under Section 54. The stay petition filed by the assessee was dismissed as infructuous. en-us Wed, 19 Nov 2014 00:00:00 +0530 Wed, 03 Jun 2015 06:10:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260139 The Tribunal directed the AO to allow the indexed cost of the property based on the fair market value as of 01.04.1981 for capital gains calculation. It confirmed the applicability of Section 50C for determining sale consideration under Section 54 and upheld the disallowance of renovation costs for exemption under Section 54. The stay petition filed by the assessee was dismissed as infructuous. Case-Laws Income Tax Wed, 19 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260139