https://www.taxtmi.com/caselaws?id=401927 The Tribunal ruled in favor of the assessee in a case concerning the computation of Long Term Capital Gain (LTCG) on the sale of a property. The Tribunal excluded an extraordinary sale instance from the valuation, accepted the assessee's objections regarding canceled khatas and ongoing litigations, and determined the correct price of the property to be Rs. 80 lakhs. Consequently, no addition was warranted under section 50C of the Income Tax Act, and the earlier addition was directed to be deleted, resulting in the allowance of the assessee's appeal. en-us Thu, 17 Dec 2020 00:00:00 +0530 Sat, 19 Dec 2020 07:54:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401927 The Tribunal ruled in favor of the assessee in a case concerning the computation of Long Term Capital Gain (LTCG) on the sale of a property. The Tribunal excluded an extraordinary sale instance from the valuation, accepted the assessee's objections regarding canceled khatas and ongoing litigations, and determined the correct price of the property to be Rs. 80 lakhs. Consequently, no addition was warranted under section 50C of the Income Tax Act, and the earlier addition was directed to be deleted, resulting in the allowance of the assessee's appeal. Case-Laws Income Tax Thu, 17 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401927