https://www.taxtmi.com/caselaws?id=380715 The Tribunal partly allowed the appeal, upholding the validity of the notice under sections 147/148 and the assessment under section 144. However, it set aside the determination of fair market value for capital gains tax calculation to the AO for reconsideration. The claim for deduction under section 54B was dismissed. The Tribunal directed the AO to allow the assessee an opportunity to present evidence regarding the fair market value of the property as on 1/4/1981. en-us Fri, 24 May 2019 00:00:00 +0530 Sat, 25 May 2019 13:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380715 The Tribunal partly allowed the appeal, upholding the validity of the notice under sections 147/148 and the assessment under section 144. However, it set aside the determination of fair market value for capital gains tax calculation to the AO for reconsideration. The claim for deduction under section 54B was dismissed. The Tribunal directed the AO to allow the assessee an opportunity to present evidence regarding the fair market value of the property as on 1/4/1981. Case-Laws Income Tax Fri, 24 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380715