https://www.taxtmi.com/caselaws?id=390194 The Tribunal condoned a one-day delay in filing the appeal, allowing it to proceed. Section 50C was applied to compute capital gains on immovable property sales, with the issue remanded for revaluation. The claim of exemption u/s 54 was rejected initially but later considered for reevaluation. An additional ground for referral to the Valuation Officer was admitted, leading to revaluation by the AO. The Tribunal allowed the additional ground, directing revaluation of the property, and treated the appeal as allowed for statistical purposes. en-us Fri, 01 Nov 2019 00:00:00 +0530 Wed, 25 Dec 2019 13:39:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390194 The Tribunal condoned a one-day delay in filing the appeal, allowing it to proceed. Section 50C was applied to compute capital gains on immovable property sales, with the issue remanded for revaluation. The claim of exemption u/s 54 was rejected initially but later considered for reevaluation. An additional ground for referral to the Valuation Officer was admitted, leading to revaluation by the AO. The Tribunal allowed the additional ground, directing revaluation of the property, and treated the appeal as allowed for statistical purposes. Case-Laws Income Tax Fri, 01 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390194