https://www.taxtmi.com/caselaws?id=294167 The Tribunal set aside the CIT(A)'s order regarding the determination of sale proceeds for A.Y. 2007-08, directing the Assessing Officer to re-examine the matter, including the nature of construction sold, and make a reference to the Valuation Cell if necessary. The Tribunal clarified its powers in dealing with appeals, emphasizing that assessed income cannot be enhanced while giving effect to its orders. The Assessing Officer was directed to recompute capital gains in compliance with Section 50C without exceeding the originally assessed amount, providing clarity on the computation of capital gains. en-us Wed, 16 Jul 2014 00:00:00 +0530 Wed, 24 Mar 2021 20:46:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294167 The Tribunal set aside the CIT(A)'s order regarding the determination of sale proceeds for A.Y. 2007-08, directing the Assessing Officer to re-examine the matter, including the nature of construction sold, and make a reference to the Valuation Cell if necessary. The Tribunal clarified its powers in dealing with appeals, emphasizing that assessed income cannot be enhanced while giving effect to its orders. The Assessing Officer was directed to recompute capital gains in compliance with Section 50C without exceeding the originally assessed amount, providing clarity on the computation of capital gains. Case-Laws Income Tax Wed, 16 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294167