https://www.taxtmi.com/caselaws?id=180223 The Tribunal adjusted the land's value to Rs. 15 lakhs instead of Rs. 24,76,890, considering adverse possession by a community. The disallowance of expenses on land improvement was upheld as unsubstantiated, directing the Assessing Officer to recalculate capital gains. In a related appeal, discrepancies in assessing bank account credits led the Tribunal to direct reexamination of the issue. The appeals were partially allowed, with instructions for recalculating capital gains and verifying the bank account deposit claim. en-us Mon, 07 May 2012 00:00:00 +0530 Fri, 18 Mar 2016 17:09:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180223 The Tribunal adjusted the land's value to Rs. 15 lakhs instead of Rs. 24,76,890, considering adverse possession by a community. The disallowance of expenses on land improvement was upheld as unsubstantiated, directing the Assessing Officer to recalculate capital gains. In a related appeal, discrepancies in assessing bank account credits led the Tribunal to direct reexamination of the issue. The appeals were partially allowed, with instructions for recalculating capital gains and verifying the bank account deposit claim. Case-Laws Income Tax Mon, 07 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180223