https://www.taxtmi.com/caselaws?id=61195 The Appellate Assistant Commissioner upheld the Income Tax Officer's decision on the computation of capital gain from the sale of land. The tribunal confirmed the cost price of the land but allowed the assessee's claims for development charges and commission, directing a recalculation of capital gain. In the case of "Shamlat" land, no capital gains were recognized for the individual assessee. Regarding the annual letting value for a residential property, the tribunal granted relief by accepting the ALV at 10% of the total computed income, partially allowing the appeal. en-us Tue, 27 Apr 1982 00:00:00 +0530 Tue, 11 Jan 2011 12:40:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61195 The Appellate Assistant Commissioner upheld the Income Tax Officer's decision on the computation of capital gain from the sale of land. The tribunal confirmed the cost price of the land but allowed the assessee's claims for development charges and commission, directing a recalculation of capital gain. In the case of "Shamlat" land, no capital gains were recognized for the individual assessee. Regarding the annual letting value for a residential property, the tribunal granted relief by accepting the ALV at 10% of the total computed income, partially allowing the appeal. Case-Laws Income Tax Tue, 27 Apr 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61195