https://www.taxtmi.com/caselaws?id=433936 The Appellate Tribunal allowed the appeals for statistical purposes due to delays attributed to the Covid-19 lockdown. The Tribunal directed the Assessing Officer to re-compute long term capital gains based on fair market value determined by the Departmental Valuation Cell, emphasizing the importance of independent valuation. Additionally, the Assessing Officer was instructed to obtain the necessary valuation report from the Departmental Valuation Cell and consider indexed cost of acquisition and exemption under Section 54F of the Act in compliance with legal requirements. en-us Wed, 18 Jan 2023 00:00:00 +0530 Tue, 14 Feb 2023 08:49:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433936 The Appellate Tribunal allowed the appeals for statistical purposes due to delays attributed to the Covid-19 lockdown. The Tribunal directed the Assessing Officer to re-compute long term capital gains based on fair market value determined by the Departmental Valuation Cell, emphasizing the importance of independent valuation. Additionally, the Assessing Officer was instructed to obtain the necessary valuation report from the Departmental Valuation Cell and consider indexed cost of acquisition and exemption under Section 54F of the Act in compliance with legal requirements. Case-Laws Income Tax Wed, 18 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433936