https://www.taxtmi.com/caselaws?id=428987 The Tribunal condoned the revenue's 11-day delay in filing the appeal, allowing it to proceed. Dispute arose over the computation of long-term capital gains on inherited property, focusing on the fair market value (FMV) for cost of acquisition. The CIT(A) directed the adoption of a revised FMV based on a logical estimation method, impacting the LTCG calculation. The revenue's appeal against the CIT(A) decision on FMV adoption was dismissed by the Tribunal, upholding the CIT(A)'s approach supported by a relevant High Court decision. en-us Thu, 13 Oct 2022 00:00:00 +0530 Sat, 15 Oct 2022 09:11:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428987 The Tribunal condoned the revenue's 11-day delay in filing the appeal, allowing it to proceed. Dispute arose over the computation of long-term capital gains on inherited property, focusing on the fair market value (FMV) for cost of acquisition. The CIT(A) directed the adoption of a revised FMV based on a logical estimation method, impacting the LTCG calculation. The revenue's appeal against the CIT(A) decision on FMV adoption was dismissed by the Tribunal, upholding the CIT(A)'s approach supported by a relevant High Court decision. Case-Laws Income Tax Thu, 13 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428987