S. 54F : Capital gains-Investment in a residential house-Joint property-Factually incorrect finding-Matter remanded [S.45, 133(6)]

S. 54B : Capital gains-Land used for agricultural purposes-Acquisition by Government-Compensation-Offering capital gains to tax under mistaken belief-Addition denying the exemption was deleted. [S. 2(14)(iii)(b), 10(37), 139(1)]

S. 54B : Capital gains-Land used for agricultural purposes-Agricultural Land-Purchase of agricultural land in same year-Order of CIT(A) allowing the deduction was affirmed. [S. 45]

S. 54 : Capital gains-Profit on sale of property used for residence-Purchase of residential unit in name of assessee’s wife-Not entitled to exemption. [S. 45]

S. 54 : Capital gains-Profit on sale of property used for residence-Possession more than three years-Documents showing rental income not verified by department-Matter remanded [S. 45]

S. 50C : Capital gains-Full value of consideration-Stamp valuation-Department Valuation-Objection of assessee was not considered-Matter remanded. [S. 45]

S. 50C : Capital gains-Full value of consideration-Stamp valuation-Sale deed shown less than value for stamp duty purposes-Agreement to sale was entered earlier-Circle rate as on date of agreement to be taken-Amendment is clarificatory and has retrospective effect-Cost of improvement-No document was provided-Not allowable as deduction [S. 45, 48]

S. 50C : Capital gains-Full value of consideration-Stamp valuation-Development rights-Transfer of development rights took place in Financial year 2000-01-Provisions of Section 50C inserted with effect from 1-4-2003 provision is not Applicable [S. 2(47)(ii), 45]

S. 50C : Capital gains-Full value of consideration-Stamp valuation-Date of agreement to sell to be taken into consideration for stamp duty valuation-Matter remanded.[S.45]

S. 49 : Capital gains-Previous owner-Cost of acquisition-Gift-Received flat as a gift from mother-Cost of acquisition of flat in hands of mother would be deemed to be cost of acquisition in hands of assessee-The cost of acquisition could not mean cost perceived by mother at time of receiving flat. [S. 45]