https://www.taxtmi.com/caselaws?id=280662 The Tribunal partly allowed the appeal related to disallowance under section 14A of the Income Tax Act with Rule 8D and fully allowed the appeal regarding additions made under section 50C of the Act. The Tribunal found the assessee's computation of disallowance reasonable and directed the Assessing Officer to delete the addition in both appeals. Additionally, discrepancies in the valuation reports led to a reduction in the valuation by 40% and 35% for the two plots, respectively, with directions for the AO to recompute the short-term capital gains accordingly. en-us Wed, 16 Dec 2015 00:00:00 +0530 Thu, 16 May 2019 06:26:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280662 The Tribunal partly allowed the appeal related to disallowance under section 14A of the Income Tax Act with Rule 8D and fully allowed the appeal regarding additions made under section 50C of the Act. The Tribunal found the assessee's computation of disallowance reasonable and directed the Assessing Officer to delete the addition in both appeals. Additionally, discrepancies in the valuation reports led to a reduction in the valuation by 40% and 35% for the two plots, respectively, with directions for the AO to recompute the short-term capital gains accordingly. Case-Laws Income Tax Wed, 16 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280662