https://www.taxtmi.com/caselaws?id=427108 The Tribunal upheld the Ld. CIT(A)'s decisions on the determination of the cost of acquisition of property, deduction towards the cost of improvement, and the receipt of cash in relation to the transfer of immovable property. The Tribunal found the estimations and deductions reasonable, supported by evidence, and dismissed the Revenue's appeals and cross objections. It emphasized the necessity of recording satisfaction for penalty proceedings, following Supreme Court precedent. en-us Tue, 30 Aug 2022 00:00:00 +0530 Thu, 01 Sep 2022 11:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427108 The Tribunal upheld the Ld. CIT(A)'s decisions on the determination of the cost of acquisition of property, deduction towards the cost of improvement, and the receipt of cash in relation to the transfer of immovable property. The Tribunal found the estimations and deductions reasonable, supported by evidence, and dismissed the Revenue's appeals and cross objections. It emphasized the necessity of recording satisfaction for penalty proceedings, following Supreme Court precedent. Case-Laws Income Tax Tue, 30 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427108