https://www.taxtmi.com/caselaws?id=420948 The appeal against the Section 263 order was dismissed due to a delay of 208 days, attributed to gross negligence. The Tribunal upheld the applicability of Section 50C and the retrospective application of the amendment by Finance Act, 2016. The cost of acquisition was determined based on the fair market value as of 1.4.1981. The guideline value for stamp duty purposes was adopted as of the year of the agreement. The Revenue's appeal was dismissed, and the assessee's cross-objection was allowed. en-us Fri, 01 Apr 2022 00:00:00 +0530 Wed, 13 Apr 2022 11:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420948 The appeal against the Section 263 order was dismissed due to a delay of 208 days, attributed to gross negligence. The Tribunal upheld the applicability of Section 50C and the retrospective application of the amendment by Finance Act, 2016. The cost of acquisition was determined based on the fair market value as of 1.4.1981. The guideline value for stamp duty purposes was adopted as of the year of the agreement. The Revenue's appeal was dismissed, and the assessee's cross-objection was allowed. Case-Laws Income Tax Fri, 01 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420948