https://www.taxtmi.com/caselaws?id=377050 The High Court upheld the CIT (Appeals) decision in determining the fair market value (FMV) for computation of capital gains, considering factors such as property area, location, and comparable sale instances. The Court found the valuation based on relevant evidence and dismissed the Revenue's appeal. Additionally, the Court affirmed the Tribunal's decision allowing set off of losses against income from capital gains, as the company's primary income source was from capital gains. The Tribunal directed the Assessing Officer to adjust capital gains based on the revised FMV. en-us Thu, 14 Mar 2019 00:00:00 +0530 Wed, 20 Mar 2019 08:46:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377050 The High Court upheld the CIT (Appeals) decision in determining the fair market value (FMV) for computation of capital gains, considering factors such as property area, location, and comparable sale instances. The Court found the valuation based on relevant evidence and dismissed the Revenue's appeal. Additionally, the Court affirmed the Tribunal's decision allowing set off of losses against income from capital gains, as the company's primary income source was from capital gains. The Tribunal directed the Assessing Officer to adjust capital gains based on the revised FMV. Case-Laws Income Tax Thu, 14 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377050