https://www.taxtmi.com/caselaws?id=280687 The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision on the computation of capital gains, directing the Assessing Officer to consider the cost of acquisition based on the date when the land was purchased by the partnership firm in 1990. Regarding the disallowance of interest on a loan, the Tribunal instructed the Assessing Officer to verify if the rent received from the property acquired using the loan was indeed offered for taxation. The appeal was treated as allowed for statistical purposes. en-us Fri, 11 May 2018 00:00:00 +0530 Fri, 17 May 2019 07:40:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280687 The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision on the computation of capital gains, directing the Assessing Officer to consider the cost of acquisition based on the date when the land was purchased by the partnership firm in 1990. Regarding the disallowance of interest on a loan, the Tribunal instructed the Assessing Officer to verify if the rent received from the property acquired using the loan was indeed offered for taxation. The appeal was treated as allowed for statistical purposes. Case-Laws Income Tax Fri, 11 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280687