https://www.taxtmi.com/caselaws?id=411882 The Tribunal partly allowed the appeal, directing the AO to re-calculate the capital gain based on the fair market value of the property as on the agreement date, in accordance with the 1st Proviso to section 50C and allowing indexed cost of acquisition deduction. The Tribunal held that the Proviso to section 50C should be applied retrospectively from the introduction of the section, overturning the decision of the CIT(A). en-us Fri, 27 Aug 2021 00:00:00 +0530 Mon, 06 Sep 2021 11:26:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411882 The Tribunal partly allowed the appeal, directing the AO to re-calculate the capital gain based on the fair market value of the property as on the agreement date, in accordance with the 1st Proviso to section 50C and allowing indexed cost of acquisition deduction. The Tribunal held that the Proviso to section 50C should be applied retrospectively from the introduction of the section, overturning the decision of the CIT(A). Case-Laws Income Tax Fri, 27 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411882