https://www.taxtmi.com/caselaws?id=174792 The Tribunal allowed the appeal, ruling that assessing capital gains based on the land value owned by the companies was unjustified. The Tribunal found no provision under the IT Act to calculate capital gains using the company's property value. It concluded that the addition made by the AO was incorrect, leading to the deletion of the added amount. en-us Thu, 02 Feb 2012 00:00:00 +0530 Mon, 14 Aug 2017 17:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=174792 The Tribunal allowed the appeal, ruling that assessing capital gains based on the land value owned by the companies was unjustified. The Tribunal found no provision under the IT Act to calculate capital gains using the company's property value. It concluded that the addition made by the AO was incorrect, leading to the deletion of the added amount. Case-Laws Income Tax Thu, 02 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=174792