https://www.taxtmi.com/caselaws?id=26708 The court upheld the assessment of capital gains over four years due to the gradual transfer of property interests. It allowed the deduction of Rs. 1 lakh paid to a tenant in computing capital gains. The Tribunal rectified the property value for capital gains computation to Rs. 18 lakhs after an initial mistaken concession. The Tribunal's recall of its order was justified under section 254(2) of the Act. The court dismissed the reference applications, affirming the Tribunal's decisions as correct and denying further reference, with each party bearing their own costs. en-us Tue, 25 Mar 1986 00:00:00 +0530 Sat, 06 Feb 2010 18:49:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26708 The court upheld the assessment of capital gains over four years due to the gradual transfer of property interests. It allowed the deduction of Rs. 1 lakh paid to a tenant in computing capital gains. The Tribunal rectified the property value for capital gains computation to Rs. 18 lakhs after an initial mistaken concession. The Tribunal's recall of its order was justified under section 254(2) of the Act. The court dismissed the reference applications, affirming the Tribunal's decisions as correct and denying further reference, with each party bearing their own costs. Case-Laws Income Tax Tue, 25 Mar 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26708