https://www.taxtmi.com/caselaws?id=267730 The Tribunal dismissed the Revenue's appeal challenging the deletion of an addition based on actual sale consideration for long-term capital gain. It also upheld the assessee's cross-objection, invalidating the assessment under Section 153C due to the absence of incriminating material. The decision underscores the significance of using actual sale consideration for computing capital gains and the requirement of incriminating evidence for invoking Section 153C of the Income Tax Act. en-us Fri, 09 Oct 2015 00:00:00 +0530 Fri, 13 Nov 2015 15:53:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267730 The Tribunal dismissed the Revenue's appeal challenging the deletion of an addition based on actual sale consideration for long-term capital gain. It also upheld the assessee's cross-objection, invalidating the assessment under Section 153C due to the absence of incriminating material. The decision underscores the significance of using actual sale consideration for computing capital gains and the requirement of incriminating evidence for invoking Section 153C of the Income Tax Act. Case-Laws Income Tax Fri, 09 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267730