https://www.taxtmi.com/caselaws?id=393302 The Tribunal partially allowed the Assessee's appeal in a case involving a valuation dispute on long-term capital gain from the sale of land. The Tribunal directed the AO to rework the index cost of acquisition based on average valuations, partially accepting the Assessee's arguments. Additionally, the Tribunal ruled in favor of the Assessee regarding the variance between the sale consideration and Jantri Value, deleting the additions made under section 50C of the Act. Precedents emphasizing minor differences in valuations influenced the decisions, leading to the partial allowance of the Assessee's appeal. en-us Mon, 03 Feb 2020 00:00:00 +0530 Tue, 10 Mar 2020 20:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393302 The Tribunal partially allowed the Assessee's appeal in a case involving a valuation dispute on long-term capital gain from the sale of land. The Tribunal directed the AO to rework the index cost of acquisition based on average valuations, partially accepting the Assessee's arguments. Additionally, the Tribunal ruled in favor of the Assessee regarding the variance between the sale consideration and Jantri Value, deleting the additions made under section 50C of the Act. Precedents emphasizing minor differences in valuations influenced the decisions, leading to the partial allowance of the Assessee's appeal. Case-Laws Income Tax Mon, 03 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393302