https://www.taxtmi.com/caselaws?id=770609 ITAT Delhi allowed the appeal for statistical purposes, directing the AO to re-examine exemption claims under sections 54B and 54F. The tribunal found error in using another party's valuation report for determining cost of acquisition as on 01.04.1981, directing AO to adopt the correct valuation report obtained for the assessee. Citing Goetze India SC precedent, the tribunal held appellate authorities can entertain claims not made in original return. AO was directed to examine exemption claims afresh without being influenced by previous observations, with assessee permitted to submit fresh evidence. en-us Wed, 07 May 2025 00:00:00 +0530 Wed, 14 May 2025 07:48:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770609 ITAT Delhi allowed the appeal for statistical purposes, directing the AO to re-examine exemption claims under sections 54B and 54F. The tribunal found error in using another party's valuation report for determining cost of acquisition as on 01.04.1981, directing AO to adopt the correct valuation report obtained for the assessee. Citing Goetze India SC precedent, the tribunal held appellate authorities can entertain claims not made in original return. AO was directed to examine exemption claims afresh without being influenced by previous observations, with assessee permitted to submit fresh evidence. Case-Laws Income Tax Wed, 07 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770609