During year, assessee sold 5 percent of land owned by it and remaining 95 per cent of land was transferred to partnership firm as partner’s capital contribution at certain amount (assessee’s share). Assessing Officer, considering market value of 5 per cent of land, believed that remaining land had been transferred to partnership firm at higher amount instead of lesser amount as shown by assessee. The Assessing Officer invoked provision of section 50C and treated consideration on transfer of land to firm in hand of assessee at such higher amount. On appeal the Tribunal held that   land transferred by assessee to partnership firm as capital contribution was a specific transaction between partnership firm and partner, same would be taxed as capital gain and consideration for same would be taken as per provision of section 45(3) and not as per provisions of section 50C  of the Act. As regards  interest paid the assessee produced  additional evidence  hence the  matter remanded.  As regards compensation paid to a waiving of its absolute right is directed to  added to cost of improvement.  (AY.2014-15)