https://www.taxtmi.com/caselaws?id=344026 The Tribunal allowed the Revenue's appeal challenging the Ld. CIT(A)'s order for Assessment Year 2009-10. It emphasized the importance of ownership in property transactions, directing the AO to recalculate capital gains by considering the ownership status and deducting the cost of the plot from the property value. The Tribunal overturned the Ld. CIT(A)'s decision, highlighting the need for accurate computation of capital gains based on ownership details. en-us Mon, 05 Jun 2017 00:00:00 +0530 Wed, 07 Jun 2017 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344026 The Tribunal allowed the Revenue's appeal challenging the Ld. CIT(A)'s order for Assessment Year 2009-10. It emphasized the importance of ownership in property transactions, directing the AO to recalculate capital gains by considering the ownership status and deducting the cost of the plot from the property value. The Tribunal overturned the Ld. CIT(A)'s decision, highlighting the need for accurate computation of capital gains based on ownership details. Case-Laws Income Tax Mon, 05 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344026