https://www.taxtmi.com/caselaws?id=341078 The Tribunal allowed the appeal of the assessee, reversing the disallowance of the deduction under section 54 of the Income Tax Act. The Tribunal directed the AO to adopt the market value as determined by a registered valuer and consider the indexed cost of acquisition from 1st April 1981. Consequently, the enhancement of income by Rs. 60,27,000/- was deleted in favor of the assessee. en-us Tue, 28 Mar 2017 00:00:00 +0530 Sat, 01 Apr 2017 16:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341078 The Tribunal allowed the appeal of the assessee, reversing the disallowance of the deduction under section 54 of the Income Tax Act. The Tribunal directed the AO to adopt the market value as determined by a registered valuer and consider the indexed cost of acquisition from 1st April 1981. Consequently, the enhancement of income by Rs. 60,27,000/- was deleted in favor of the assessee. Case-Laws Income Tax Tue, 28 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341078