https://www.taxtmi.com/caselaws?id=464047 ITAT, Nagpur upheld CIT(A)'s acceptance of the DVO's FMV of Rs.1,80,88,560 for long-term capital gains, rejecting reliance on an alternative sale instance and affirming the valuation. The addition under section 41(1) for deferred sales-tax converted to a loan was deleted in favour of the assessee, distinguishing earlier Supreme Court authority and following the jurisdictional HC view. The tribunal also allowed adjustment of short-term capital gains from sale of depreciable assets against brought-forward business losses, setting aside the CIT(A)'s contrary order. en-us Fri, 18 Dec 2015 00:00:00 +0530 Sat, 27 Sep 2025 14:01:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464047 ITAT, Nagpur upheld CIT(A)'s acceptance of the DVO's FMV of Rs.1,80,88,560 for long-term capital gains, rejecting reliance on an alternative sale instance and affirming the valuation. The addition under section 41(1) for deferred sales-tax converted to a loan was deleted in favour of the assessee, distinguishing earlier Supreme Court authority and following the jurisdictional HC view. The tribunal also allowed adjustment of short-term capital gains from sale of depreciable assets against brought-forward business losses, setting aside the CIT(A)'s contrary order. Case-Laws Income Tax Fri, 18 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464047