https://www.taxtmi.com/caselaws?id=366864 The Tribunal upheld the CIT(A)'s decision in a case concerning the computation of capital gain under a Joint Development Agreement (JDA). The Tribunal ruled that the sale consideration should be based on the exchange value of the property, as per the guidance value, rather than the Assessing Officer's determination. Emphasizing the importance of fair market value, the Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s order. The decision highlighted the need to consider legal precedents and relevant judgments in determining capital gain in such transactions. en-us Fri, 07 Sep 2018 00:00:00 +0530 Wed, 12 Sep 2018 09:43:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366864 The Tribunal upheld the CIT(A)'s decision in a case concerning the computation of capital gain under a Joint Development Agreement (JDA). The Tribunal ruled that the sale consideration should be based on the exchange value of the property, as per the guidance value, rather than the Assessing Officer's determination. Emphasizing the importance of fair market value, the Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s order. The decision highlighted the need to consider legal precedents and relevant judgments in determining capital gain in such transactions. Case-Laws Income Tax Fri, 07 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366864