https://www.taxtmi.com/caselaws?id=394914 The Tribunal upheld the A.O's decision to use the higher sale consideration for capital gains computation, as supported by the purchaser's statement. It remitted the issue of the development cost deduction back to the A.O for further review, requiring the assessee to provide evidence. The Tribunal granted the exemption under Section 54F, despite the property being in the husband's name, referencing a pertinent High Court ruling. The assessee's appeal was allowed for statistical purposes, emphasizing the necessity of evidence in substantiating claims and applying legal precedents to ensure equitable outcomes. en-us Tue, 25 Feb 2020 00:00:00 +0530 Wed, 06 Nov 2024 12:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394914 The Tribunal upheld the A.O's decision to use the higher sale consideration for capital gains computation, as supported by the purchaser's statement. It remitted the issue of the development cost deduction back to the A.O for further review, requiring the assessee to provide evidence. The Tribunal granted the exemption under Section 54F, despite the property being in the husband's name, referencing a pertinent High Court ruling. The assessee's appeal was allowed for statistical purposes, emphasizing the necessity of evidence in substantiating claims and applying legal precedents to ensure equitable outcomes. Case-Laws Income Tax Tue, 25 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394914