https://www.taxtmi.com/caselaws?id=421170 The case involved the computation of capital gains on the sale of housing plots through a Power of Attorney holder. The Assessing Officer applied Sec.50C for valuation and restricted the exemption u/s 54F, resulting in re-computation of capital gains. The Appellate Authority upheld the AO's decision, rejecting the assessee's claims. Discrepancies in the sale documents led to the case being remitted back to the AO for reevaluation of the sale consideration, application of Sec.50C, and deduction u/s 54F based on new evidence. The appeal was partly allowed for statistical purposes to ensure accurate determination of capital gains. en-us Mon, 21 Feb 2022 00:00:00 +0530 Tue, 19 Apr 2022 08:53:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421170 The case involved the computation of capital gains on the sale of housing plots through a Power of Attorney holder. The Assessing Officer applied Sec.50C for valuation and restricted the exemption u/s 54F, resulting in re-computation of capital gains. The Appellate Authority upheld the AO's decision, rejecting the assessee's claims. Discrepancies in the sale documents led to the case being remitted back to the AO for reevaluation of the sale consideration, application of Sec.50C, and deduction u/s 54F based on new evidence. The appeal was partly allowed for statistical purposes to ensure accurate determination of capital gains. Case-Laws Income Tax Mon, 21 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421170