https://www.taxtmi.com/caselaws?id=437218 The Tribunal dismissed the Revenue's appeal regarding the re-computation of capital gains, upholding the CIT(A)'s decision to consider a reduced sale consideration of Rs. 25 lakh due to unclear land title and ongoing litigation. The Tribunal found the Revenue's contentions lacking basis and accepted the assessee's explanation for the reduced consideration. Consequently, the Tribunal directed the AO to recompute the capital gains based on the revised sale consideration. The appeal outcome favored the assessee, and the order was pronounced on 31/03/2023. en-us Fri, 31 Mar 2023 00:00:00 +0530 Mon, 01 May 2023 09:09:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437218 The Tribunal dismissed the Revenue's appeal regarding the re-computation of capital gains, upholding the CIT(A)'s decision to consider a reduced sale consideration of Rs. 25 lakh due to unclear land title and ongoing litigation. The Tribunal found the Revenue's contentions lacking basis and accepted the assessee's explanation for the reduced consideration. Consequently, the Tribunal directed the AO to recompute the capital gains based on the revised sale consideration. The appeal outcome favored the assessee, and the order was pronounced on 31/03/2023. Case-Laws Income Tax Fri, 31 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437218