https://www.taxtmi.com/caselaws?id=263764 The Revenue's appeal challenging the allocation of costs towards the building and the calculation of long-term capital gains on leasehold rights was dismissed. The CIT(A)'s decision to allocate the building's value at Rs. 87,12,170 instead of Rs. 5,28,12,000 was upheld, emphasizing that the buyer paid based on the land cost due to the leasehold rights' transfer. Additionally, the CIT(A) directed a revision of the building's value and allowed depreciation on the property held for over 40 years. The cross objections by the assessee were treated as allowed for statistical purposes. en-us Wed, 15 Jul 2015 00:00:00 +0530 Thu, 10 Sep 2015 08:18:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263764 The Revenue's appeal challenging the allocation of costs towards the building and the calculation of long-term capital gains on leasehold rights was dismissed. The CIT(A)'s decision to allocate the building's value at Rs. 87,12,170 instead of Rs. 5,28,12,000 was upheld, emphasizing that the buyer paid based on the land cost due to the leasehold rights' transfer. Additionally, the CIT(A) directed a revision of the building's value and allowed depreciation on the property held for over 40 years. The cross objections by the assessee were treated as allowed for statistical purposes. Case-Laws Income Tax Wed, 15 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263764