https://www.taxtmi.com/caselaws?id=336305 The appeal was allowed for statistical purposes, directing the Assessing Officer to reevaluate the fair market value of the property with consideration given to its potential for commercial use, despite being legally designated for residential purposes. The judgment emphasized the importance of accurately determining the fair market value for computing capital gains and the admissibility of additional evidence under Rule 46A to ensure a just resolution of tax disputes. en-us Fri, 09 Dec 2016 00:00:00 +0530 Mon, 19 Dec 2016 13:31:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336305 The appeal was allowed for statistical purposes, directing the Assessing Officer to reevaluate the fair market value of the property with consideration given to its potential for commercial use, despite being legally designated for residential purposes. The judgment emphasized the importance of accurately determining the fair market value for computing capital gains and the admissibility of additional evidence under Rule 46A to ensure a just resolution of tax disputes. Case-Laws Income Tax Fri, 09 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336305