https://www.taxtmi.com/caselaws?id=373425 The Tribunal partly allowed the assessee's appeal by upholding the validity of the assessment re-opening and the 'transfer' event under Section 2(47)(v) of the Income Tax Act. However, it granted the assessee's claim for exemption under Section 54F for 2 flats received. The issues concerning capital gains computation and cost of acquisition were not addressed due to the exemption granted. The charging of interest under Sections 234A and 234B was upheld, with directions for the AO to re-compute the interest in accordance with the Tribunal's decision. en-us Wed, 09 Jan 2019 00:00:00 +0530 Sat, 12 Jan 2019 07:01:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373425 The Tribunal partly allowed the assessee's appeal by upholding the validity of the assessment re-opening and the 'transfer' event under Section 2(47)(v) of the Income Tax Act. However, it granted the assessee's claim for exemption under Section 54F for 2 flats received. The issues concerning capital gains computation and cost of acquisition were not addressed due to the exemption granted. The charging of interest under Sections 234A and 234B was upheld, with directions for the AO to re-compute the interest in accordance with the Tribunal's decision. Case-Laws Income Tax Wed, 09 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373425