https://www.taxtmi.com/caselaws?id=388345 The Tribunal directed the AO to adopt the Fair Market Value (FMV) of Rs. 50 per sq. ft. as claimed by the assessee. The deduction of Rs. 65,776 under Section 50 for construction costs was allowed based on evidence of a poultry farm building. The deletion of Rs. 10,00,000 brokerage addition was upheld due to valid evidence presented to the CIT(A). The deduction under Section 54B for reinvestment in agricultural land was allowed by the CIT(A) and confirmed by the Tribunal. The Tribunal dismissed the Revenue's appeal, emphasizing procedural compliance and fair adjudication. en-us Thu, 07 Nov 2019 00:00:00 +0530 Thu, 14 Nov 2019 10:34:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388345 The Tribunal directed the AO to adopt the Fair Market Value (FMV) of Rs. 50 per sq. ft. as claimed by the assessee. The deduction of Rs. 65,776 under Section 50 for construction costs was allowed based on evidence of a poultry farm building. The deletion of Rs. 10,00,000 brokerage addition was upheld due to valid evidence presented to the CIT(A). The deduction under Section 54B for reinvestment in agricultural land was allowed by the CIT(A) and confirmed by the Tribunal. The Tribunal dismissed the Revenue's appeal, emphasizing procedural compliance and fair adjudication. Case-Laws Income Tax Thu, 07 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388345