https://www.taxtmi.com/caselaws?id=434193 The case involved disputes over the computation of fair market value for capital gain calculation, disallowance of claimed loss due to lack of business activities, challenge of fair market value adoption by the Assessing Officer, and judicial review of valuation decisions. The Assessing Officer's decision to use the District Valuation Officer's valuation was contested by the Assessee, leading to a successful appeal where the Tribunal directed a reevaluation of fair market value based on relevant sale instances and additional considerations, overturning the Commissioner's decision. en-us Fri, 17 Feb 2023 00:00:00 +0530 Sat, 18 Feb 2023 06:50:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434193 The case involved disputes over the computation of fair market value for capital gain calculation, disallowance of claimed loss due to lack of business activities, challenge of fair market value adoption by the Assessing Officer, and judicial review of valuation decisions. The Assessing Officer's decision to use the District Valuation Officer's valuation was contested by the Assessee, leading to a successful appeal where the Tribunal directed a reevaluation of fair market value based on relevant sale instances and additional considerations, overturning the Commissioner's decision. Case-Laws Income Tax Fri, 17 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434193