https://www.taxtmi.com/caselaws?id=274959 The appellate tribunal ruled in favor of the assessee in an appeal against the assessment order for the assessment year 2006-07. The tribunal held that the consideration for the exchange of land in a Joint Development Agreement should be based on the fair market value of the land at the time of the agreement, not solely on the builder's cost of construction. By aligning with legal precedents emphasizing fair market value, the tribunal overturned the assessment order, providing relief to the assessee. en-us Fri, 09 Jun 2017 00:00:00 +0530 Wed, 12 Sep 2018 14:49:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274959 The appellate tribunal ruled in favor of the assessee in an appeal against the assessment order for the assessment year 2006-07. The tribunal held that the consideration for the exchange of land in a Joint Development Agreement should be based on the fair market value of the land at the time of the agreement, not solely on the builder's cost of construction. By aligning with legal precedents emphasizing fair market value, the tribunal overturned the assessment order, providing relief to the assessee. Case-Laws Income Tax Fri, 09 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274959