https://www.taxtmi.com/caselaws?id=332919 The High Court confirmed the fair market value but remanded the issue of indexed cost of improvements for fresh consideration, setting aside the CIT(A)'s findings. The Tribunal's dismissal of the appeal and cross objections led to the Revenue filing an appeal before the High Court. The Revenue challenged the decision on improvement costs, with the High Court ultimately allowing 55% of the claimed amount after a 45% disallowance for potential defects. The assessee's cross objection was dismissed as supportive and infructuous, concluding the case with a partial allowance of improvement costs. en-us Wed, 17 Aug 2016 00:00:00 +0530 Thu, 29 Sep 2016 08:55:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332919 The High Court confirmed the fair market value but remanded the issue of indexed cost of improvements for fresh consideration, setting aside the CIT(A)'s findings. The Tribunal's dismissal of the appeal and cross objections led to the Revenue filing an appeal before the High Court. The Revenue challenged the decision on improvement costs, with the High Court ultimately allowing 55% of the claimed amount after a 45% disallowance for potential defects. The assessee's cross objection was dismissed as supportive and infructuous, concluding the case with a partial allowance of improvement costs. Case-Laws Income Tax Wed, 17 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332919