https://www.taxtmi.com/caselaws?id=343430 The Tribunal partly allowed the assessee's appeal, dismissing the Revenue's appeal. It concluded that Long Term Capital Gains (LTCG) should be taxed in Assessment Year (AY) 2007-08. Additionally, gains from the transfer of the constructed area should be taxed as short-term capital gains in the respective years of actual transfer. The Tribunal also vacated the CIT(A)'s direction to reassess other co-owners without a proper hearing. en-us Thu, 11 May 2017 00:00:00 +0530 Thu, 25 May 2017 10:25:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343430 The Tribunal partly allowed the assessee's appeal, dismissing the Revenue's appeal. It concluded that Long Term Capital Gains (LTCG) should be taxed in Assessment Year (AY) 2007-08. Additionally, gains from the transfer of the constructed area should be taxed as short-term capital gains in the respective years of actual transfer. The Tribunal also vacated the CIT(A)'s direction to reassess other co-owners without a proper hearing. Case-Laws Income Tax Thu, 11 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343430