https://www.taxtmi.com/caselaws?id=190779 The Tribunal allowed the assessee's appeal and dismissed the Revenue's appeal. The Tribunal accepted the registered valuer's report for determining Fair Market Value (FMV) for Long Term Capital Gains (LTCG) on the sale of Vanagaram land, set aside the disallowance under section 40(a)(i) for payments made to foreign shipping companies, and upheld the restriction on the applicability of Rule 8D for disallowance under section 40A of the Income Tax Act. en-us Tue, 04 Oct 2011 00:00:00 +0530 Tue, 26 Sep 2017 09:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190779 The Tribunal allowed the assessee's appeal and dismissed the Revenue's appeal. The Tribunal accepted the registered valuer's report for determining Fair Market Value (FMV) for Long Term Capital Gains (LTCG) on the sale of Vanagaram land, set aside the disallowance under section 40(a)(i) for payments made to foreign shipping companies, and upheld the restriction on the applicability of Rule 8D for disallowance under section 40A of the Income Tax Act. Case-Laws Income Tax Tue, 04 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190779