https://www.taxtmi.com/caselaws?id=279107 The Tribunal allowed the appeal for statistical purposes, remanding the case to the AO for reevaluation of capital gain computation and exemption u/s 54(2) due to discrepancies in property valuation and utilization of deposited funds. The AO's valuation differed significantly from the assessee's, prompting the Tribunal to direct a detailed market enquiry for substantiation. The denial of exemption for non-utilization within the statutory period was held premature, requiring assessment after three years from the transaction date. The case outcome necessitated further examination and decision by the AO in compliance with the law. en-us Fri, 23 Jul 2010 00:00:00 +0530 Mon, 04 Mar 2019 13:14:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279107 The Tribunal allowed the appeal for statistical purposes, remanding the case to the AO for reevaluation of capital gain computation and exemption u/s 54(2) due to discrepancies in property valuation and utilization of deposited funds. The AO's valuation differed significantly from the assessee's, prompting the Tribunal to direct a detailed market enquiry for substantiation. The denial of exemption for non-utilization within the statutory period was held premature, requiring assessment after three years from the transaction date. The case outcome necessitated further examination and decision by the AO in compliance with the law. Case-Laws Income Tax Fri, 23 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279107