https://www.taxtmi.com/caselaws?id=370891 The Tribunal upheld the initiation of proceedings under Section 147 of the Income-Tax Act, confirming the ownership of the property by individual assessees. The Tribunal directed the Assessing Officer to compute long-term capital gain based on the revised cost of construction. Claims regarding Fair Market Value and brokerage were rejected due to insufficient evidence. en-us Fri, 06 Jul 2018 00:00:00 +0530 Mon, 26 Nov 2018 07:57:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370891 The Tribunal upheld the initiation of proceedings under Section 147 of the Income-Tax Act, confirming the ownership of the property by individual assessees. The Tribunal directed the Assessing Officer to compute long-term capital gain based on the revised cost of construction. Claims regarding Fair Market Value and brokerage were rejected due to insufficient evidence. Case-Laws Income Tax Fri, 06 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370891