https://www.taxtmi.com/caselaws?id=438468 The Tribunal allowed the appeal for statistical purposes and remanded both issues to the Assessing Officer for fresh consideration. For the first issue regarding capital gain, the Tribunal emphasized the need for a reevaluation considering the specific circumstances and additional evidence provided. The second issue concerning section 56(2)(vii)(b) involved directing the AO to refer the valuation to the Departmental Valuation Officer and allow deductions for cost of acquisition and other expenses in computing capital gain. The matters were remitted for a fresh decision based on the Tribunal's directions and additional evidence presented. en-us Tue, 30 May 2023 00:00:00 +0530 Thu, 01 Jun 2023 08:07:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438468 The Tribunal allowed the appeal for statistical purposes and remanded both issues to the Assessing Officer for fresh consideration. For the first issue regarding capital gain, the Tribunal emphasized the need for a reevaluation considering the specific circumstances and additional evidence provided. The second issue concerning section 56(2)(vii)(b) involved directing the AO to refer the valuation to the Departmental Valuation Officer and allow deductions for cost of acquisition and other expenses in computing capital gain. The matters were remitted for a fresh decision based on the Tribunal's directions and additional evidence presented. Case-Laws Income Tax Tue, 30 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438468