https://www.taxtmi.com/caselaws?id=191442 The tribunal partly allowed the appeal by the revenue. It upheld the Assessing Officer's application of Section 50C for capital gains computation based on the stamp duty authority's determined market value. However, it directed the Assessing Officer to allow the exemption under Section 54 as the assessee had invested the net sale consideration in constructing a new residential house within the prescribed period, despite the construction commencing before the transfer of the original asset. en-us Fri, 21 Oct 2016 00:00:00 +0530 Tue, 04 Apr 2017 09:54:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191442 The tribunal partly allowed the appeal by the revenue. It upheld the Assessing Officer's application of Section 50C for capital gains computation based on the stamp duty authority's determined market value. However, it directed the Assessing Officer to allow the exemption under Section 54 as the assessee had invested the net sale consideration in constructing a new residential house within the prescribed period, despite the construction commencing before the transfer of the original asset. Case-Laws Income Tax Fri, 21 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191442