https://www.taxtmi.com/caselaws?id=178265 The Tribunal upheld the ld. CIT(A)'s decision in the case involving the determination of the sale consideration of agricultural land, directing the adoption of the sale value at Rs. 17,35,301/- instead of Rs. 27,08,000/- as the AO lacked sufficient evidence for the increase. Additionally, the Tribunal held that the cost of acquisition should be Rs. 72,914/- and dismissed the Revenue's appeal regarding consideration under Section 48 of the I.T. Act. The Tribunal also ruled that capital gain should only be considered for 0.6696 hectare of land, not the entire 0.3754 hectare. en-us Fri, 09 Dec 2011 00:00:00 +0530 Mon, 01 Feb 2016 12:48:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178265 The Tribunal upheld the ld. CIT(A)'s decision in the case involving the determination of the sale consideration of agricultural land, directing the adoption of the sale value at Rs. 17,35,301/- instead of Rs. 27,08,000/- as the AO lacked sufficient evidence for the increase. Additionally, the Tribunal held that the cost of acquisition should be Rs. 72,914/- and dismissed the Revenue's appeal regarding consideration under Section 48 of the I.T. Act. The Tribunal also ruled that capital gain should only be considered for 0.6696 hectare of land, not the entire 0.3754 hectare. Case-Laws Income Tax Fri, 09 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178265