https://www.taxtmi.com/caselaws?id=427367 The court dismissed the revenue's appeal, upholding the decisions of the first appellate authority and the ITAT. It held that disallowance under Section 40(a)(ia) was not warranted as the amounts were not claimed as deductions in the profit and loss account. The court affirmed the ITAT's jurisdiction in valuation matters and found no substantial question of law in the ITAT's directive to rework the capital gains using the DVO's guideline value. en-us Mon, 05 Sep 2022 00:00:00 +0530 Sat, 19 Nov 2022 14:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427367 The court dismissed the revenue's appeal, upholding the decisions of the first appellate authority and the ITAT. It held that disallowance under Section 40(a)(ia) was not warranted as the amounts were not claimed as deductions in the profit and loss account. The court affirmed the ITAT's jurisdiction in valuation matters and found no substantial question of law in the ITAT's directive to rework the capital gains using the DVO's guideline value. Case-Laws Income Tax Mon, 05 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427367