https://www.taxtmi.com/caselaws?id=403529 The Appellate Tribunal allowed the appeals of the assessees, emphasizing the need for reevaluation of the computation of capital gains, specifically the deduction of the cost of acquisition of flats sold by the assessees. The Tribunal held that capital gains liability arises at the time of entering the Joint Development Agreement (JDA) and that the fair market value of the constructed area should be considered as the cost of acquisition. The decision was pronounced on 3rd December 2020. en-us Thu, 03 Dec 2020 00:00:00 +0530 Mon, 01 Feb 2021 06:59:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403529 The Appellate Tribunal allowed the appeals of the assessees, emphasizing the need for reevaluation of the computation of capital gains, specifically the deduction of the cost of acquisition of flats sold by the assessees. The Tribunal held that capital gains liability arises at the time of entering the Joint Development Agreement (JDA) and that the fair market value of the constructed area should be considered as the cost of acquisition. The decision was pronounced on 3rd December 2020. Case-Laws Income Tax Thu, 03 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403529