https://www.taxtmi.com/caselaws?id=325877 The Tribunal set aside the appeal regarding the determination of fair market value as of 1-4-1981 due to the assessee's failure to provide a valuation report, directing submission within four months for reconsideration. However, the Tribunal allowed the appeal on the eligibility of deduction under section 54B for purchasing agricultural land in the name of the assessee's wife, as funds were traced back to the assessee's bank account, emphasizing the significance of proper documentation for fair market value and deduction eligibility under the Income Tax Act. en-us Fri, 19 Feb 2016 00:00:00 +0530 Thu, 31 Mar 2016 10:41:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325877 The Tribunal set aside the appeal regarding the determination of fair market value as of 1-4-1981 due to the assessee's failure to provide a valuation report, directing submission within four months for reconsideration. However, the Tribunal allowed the appeal on the eligibility of deduction under section 54B for purchasing agricultural land in the name of the assessee's wife, as funds were traced back to the assessee's bank account, emphasizing the significance of proper documentation for fair market value and deduction eligibility under the Income Tax Act. Case-Laws Income Tax Fri, 19 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325877