https://www.taxtmi.com/caselaws?id=282713 The Tribunal allowed the appeal, directing the Assessing Officer to adopt the fair market value declared by the assessee for computing long-term capital gains as of April 1, 1981. This decision made other issues, including the validity of proceedings under Section 148 and assessment orders under Sections 143(3), 147, and 148, academic. The Tribunal emphasized the assessee's declared valuation, citing precedent that the AO cannot adopt a lower fair market value. The decision was rendered on March 12, 2019. en-us Tue, 12 Mar 2019 00:00:00 +0530 Tue, 20 Aug 2019 20:40:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282713 The Tribunal allowed the appeal, directing the Assessing Officer to adopt the fair market value declared by the assessee for computing long-term capital gains as of April 1, 1981. This decision made other issues, including the validity of proceedings under Section 148 and assessment orders under Sections 143(3), 147, and 148, academic. The Tribunal emphasized the assessee's declared valuation, citing precedent that the AO cannot adopt a lower fair market value. The decision was rendered on March 12, 2019. Case-Laws Income Tax Tue, 12 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282713