https://www.taxtmi.com/caselaws?id=395077 The Tribunal dismissed all appeals by the Revenue and partly allowed the Cross Objections filed by the Assessee. In the first issue regarding the deletion of addition on account of differential long-term capital gain on the sale of land, the Tribunal held that the actual consideration received should be considered, not the fair market value, and dismissed the Revenue's appeal. In the second issue concerning the deletion of addition of income admitted during the search action, the Tribunal ruled that the addition based solely on statements without corroborative evidence was not justified, leading to the dismissal of the Revenue's appeal and partial allowance of the Assessee's Cross Objection. en-us Fri, 28 Feb 2020 00:00:00 +0530 Mon, 04 May 2020 15:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395077 The Tribunal dismissed all appeals by the Revenue and partly allowed the Cross Objections filed by the Assessee. In the first issue regarding the deletion of addition on account of differential long-term capital gain on the sale of land, the Tribunal held that the actual consideration received should be considered, not the fair market value, and dismissed the Revenue's appeal. In the second issue concerning the deletion of addition of income admitted during the search action, the Tribunal ruled that the addition based solely on statements without corroborative evidence was not justified, leading to the dismissal of the Revenue's appeal and partial allowance of the Assessee's Cross Objection. Case-Laws Income Tax Fri, 28 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395077