https://www.taxtmi.com/caselaws?id=289804 The Tribunal allowed the Assessee's appeal, setting aside the lower authorities' orders. It concluded that the value recorded in the firm's books, Rs. 29,77,300/-, should be used for computing capital gains under Section 45(3) of the Income Tax Act. Section 50C does not override Section 45(3). Consequently, the interest levied under Sections 234A, 234B, and 234C was also affected. en-us Mon, 19 Aug 2019 00:00:00 +0530 Thu, 14 Nov 2024 11:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289804 The Tribunal allowed the Assessee's appeal, setting aside the lower authorities' orders. It concluded that the value recorded in the firm's books, Rs. 29,77,300/-, should be used for computing capital gains under Section 45(3) of the Income Tax Act. Section 50C does not override Section 45(3). Consequently, the interest levied under Sections 234A, 234B, and 234C was also affected. Case-Laws Income Tax Mon, 19 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289804