https://www.taxtmi.com/caselaws?id=176399 The Tribunal ruled in favor of the assessee, finding that they acquired ownership rights to the disputed lands through adverse possession. It was determined that no cost of acquisition was incurred, and the litigation expenses were not considered part of the acquisition cost. The Tribunal also held that the provisions of the IT Act did not apply to the situation and that the sale consideration received was not taxable under Section 10(3). As a result, the assessee's appeal for one assessment year was allowed, and the Revenue's appeal for another assessment year was dismissed. en-us Mon, 30 Apr 2007 00:00:00 +0530 Mon, 21 Dec 2015 18:17:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176399 The Tribunal ruled in favor of the assessee, finding that they acquired ownership rights to the disputed lands through adverse possession. It was determined that no cost of acquisition was incurred, and the litigation expenses were not considered part of the acquisition cost. The Tribunal also held that the provisions of the IT Act did not apply to the situation and that the sale consideration received was not taxable under Section 10(3). As a result, the assessee's appeal for one assessment year was allowed, and the Revenue's appeal for another assessment year was dismissed. Case-Laws Income Tax Mon, 30 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176399