https://www.taxtmi.com/caselaws?id=406423 The Tribunal dismissed the appeal regarding the taxability of Long Term Capital Gain (LTCG) on the sale of land as settled under the Vivad Se Vishwas Scheme 2020. The computation of capital contribution and addition of share profit from undisclosed profits were not separately adjudicated due to the settlement. The Tribunal remanded the issue of exemption under section 54B back to the AO for verification, emphasizing the importance of not taxing the same income twice and granting exemptions as per the law. The appeals were partly allowed for statistical purposes, with specific issues requiring fresh adjudication. en-us Mon, 12 Apr 2021 00:00:00 +0530 Tue, 13 Apr 2021 11:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406423 The Tribunal dismissed the appeal regarding the taxability of Long Term Capital Gain (LTCG) on the sale of land as settled under the Vivad Se Vishwas Scheme 2020. The computation of capital contribution and addition of share profit from undisclosed profits were not separately adjudicated due to the settlement. The Tribunal remanded the issue of exemption under section 54B back to the AO for verification, emphasizing the importance of not taxing the same income twice and granting exemptions as per the law. The appeals were partly allowed for statistical purposes, with specific issues requiring fresh adjudication. Case-Laws Income Tax Mon, 12 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406423