https://www.taxtmi.com/caselaws?id=768041 For computing long-term capital gains on sale of ancestral agricultural land, a higher 01.04.1981 historical value was accepted where no direct contemporaneous valuation existed; the underlying comparable land rate from a Supreme Court determination was treated as a reasonable guide, though solatium was excluded, and indexed cost was to be recomputed on Rs. 150 per sq. yd. On section 54F, relief was allowed on investments in residential properties, including a house registered in the mother's name, because the inherited property was treated on the facts as devolving on the assessee and the mother and the sale proceeds were held to have been applied for acquisition and construction of residential assets. en-us Thu, 27 Mar 2025 00:00:00 +0530 Sat, 29 Mar 2025 08:15:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768041 For computing long-term capital gains on sale of ancestral agricultural land, a higher 01.04.1981 historical value was accepted where no direct contemporaneous valuation existed; the underlying comparable land rate from a Supreme Court determination was treated as a reasonable guide, though solatium was excluded, and indexed cost was to be recomputed on Rs. 150 per sq. yd. On section 54F, relief was allowed on investments in residential properties, including a house registered in the mother's name, because the inherited property was treated on the facts as devolving on the assessee and the mother and the sale proceeds were held to have been applied for acquisition and construction of residential assets. Case-Laws Income Tax Thu, 27 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768041