https://www.taxtmi.com/caselaws?id=263885 The appeal by the assessee was partly allowed. The sum of Rs. 33 lakhs was to be taxed under 'Capital Gains', and the FMV of the land and building was not to be taxed under 'income from other sources'. The assessee was entitled to deductions for expenses incurred in connection with the transfer and the cost of acquisition of leasehold rights. The Tribunal directed the AO to examine and allow the deduction claim accordingly. en-us Wed, 26 Aug 2015 00:00:00 +0530 Sat, 12 Sep 2015 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263885 The appeal by the assessee was partly allowed. The sum of Rs. 33 lakhs was to be taxed under 'Capital Gains', and the FMV of the land and building was not to be taxed under 'income from other sources'. The assessee was entitled to deductions for expenses incurred in connection with the transfer and the cost of acquisition of leasehold rights. The Tribunal directed the AO to examine and allow the deduction claim accordingly. Case-Laws Income Tax Wed, 26 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263885