https://www.taxtmi.com/caselaws?id=57758 The Tribunal upheld the CIT(A)'s decision on the fair market value of the property at 9th Block, Jayanagar, as Rs. 100 per sq. ft. as on 1st April 1981 for computing capital gains. Regarding the taxability of compensation for surrendering tenancy rights at Arekere Village, the Tribunal directed the AO to consider the advance paid as the cost of tenancy rights, differing from the CIT(A)'s approach. Both appeals were dismissed, and the AO was instructed to recalculate long-term capital gains based on the verified advance payment. en-us Tue, 21 Nov 2000 00:00:00 +0530 Mon, 13 Dec 2010 12:58:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57758 The Tribunal upheld the CIT(A)'s decision on the fair market value of the property at 9th Block, Jayanagar, as Rs. 100 per sq. ft. as on 1st April 1981 for computing capital gains. Regarding the taxability of compensation for surrendering tenancy rights at Arekere Village, the Tribunal directed the AO to consider the advance paid as the cost of tenancy rights, differing from the CIT(A)'s approach. Both appeals were dismissed, and the AO was instructed to recalculate long-term capital gains based on the verified advance payment. Case-Laws Income Tax Tue, 21 Nov 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57758