https://www.taxtmi.com/caselaws?id=290143 The court dismissed the appellant's appeal concerning the computation of capital gains on a property sale in Chennai. The Assessing Officer's decision to consider the declared value as full consideration, restrict deduction under Section 54 to post-sale investments, apply Section 50C for valuation, and disallow improvement expenses was upheld. The judgment emphasized adherence to statutory provisions and previous judicial decisions, leading to the rejection of the appellant's arguments. The case underscored the importance of accurate valuation, timing of deductions, and substantiation of expenses in capital gains calculations under the Income Tax Act, 1961. en-us Thu, 15 Mar 2018 00:00:00 +0530 Thu, 10 Sep 2020 21:05:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290143 The court dismissed the appellant's appeal concerning the computation of capital gains on a property sale in Chennai. The Assessing Officer's decision to consider the declared value as full consideration, restrict deduction under Section 54 to post-sale investments, apply Section 50C for valuation, and disallow improvement expenses was upheld. The judgment emphasized adherence to statutory provisions and previous judicial decisions, leading to the rejection of the appellant's arguments. The case underscored the importance of accurate valuation, timing of deductions, and substantiation of expenses in capital gains calculations under the Income Tax Act, 1961. Case-Laws Income Tax Thu, 15 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290143