https://www.taxtmi.com/caselaws?id=372824 The Tribunal partially allowed the assessee's appeal, emphasizing the importance of accurately considering negative factors in property valuation. The judgment highlights the significance of fair market value determination and the need for proper assessment based on relevant objections and factors affecting property value. The Tribunal adjusted the deductions granted by the DVO, increasing them to reflect the actual impact of the negative factors on the property's value. Consequently, the Tribunal set aside the CIT(A)'s order and directed the Assessing Officer to recalculate the capital gains based on the revised deductions. en-us Fri, 28 Dec 2018 00:00:00 +0530 Mon, 31 Dec 2018 07:35:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372824 The Tribunal partially allowed the assessee's appeal, emphasizing the importance of accurately considering negative factors in property valuation. The judgment highlights the significance of fair market value determination and the need for proper assessment based on relevant objections and factors affecting property value. The Tribunal adjusted the deductions granted by the DVO, increasing them to reflect the actual impact of the negative factors on the property's value. Consequently, the Tribunal set aside the CIT(A)'s order and directed the Assessing Officer to recalculate the capital gains based on the revised deductions. Case-Laws Income Tax Fri, 28 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372824