https://www.taxtmi.com/caselaws?id=792979 A jurisdictional objection raised for the first time in appeal was treated as barred by waiver and delay under section 124(3) after the assessee had participated in the assessment proceedings. For capital gains, the entire cost of acquisition of the capital asset had to be taken, and it could not be reduced merely because part of the land was reserved during conversion. The section 50C valuation was upheld on the basis of seized cash and registered sale deeds, and section 54 relief was not granted. Interest under sections 234A and 234B was deleted, while section 234C was directed to be recomputed, because the Revenue already held seized cash before the relevant due dates. en-us Wed, 03 Jun 2026 00:00:00 +0530 Sat, 06 Jun 2026 08:42:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792979 A jurisdictional objection raised for the first time in appeal was treated as barred by waiver and delay under section 124(3) after the assessee had participated in the assessment proceedings. For capital gains, the entire cost of acquisition of the capital asset had to be taken, and it could not be reduced merely because part of the land was reserved during conversion. The section 50C valuation was upheld on the basis of seized cash and registered sale deeds, and section 54 relief was not granted. Interest under sections 234A and 234B was deleted, while section 234C was directed to be recomputed, because the Revenue already held seized cash before the relevant due dates. Case-Laws Income Tax Wed, 03 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792979