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2014 (4) TMI 1044 - AT - Income TaxExemption under section 54B - Held that:- Since the main issue with regard to exemption under section 54B is remitted back to the file of the Assessing Officer, this Tribunal is of the considered opinion that the fair market value also needs to be reconsidered by the Assessing Officer after giving reasonable opportunity of hearing to the assessee. Accordingly, the orders of the authorities below on this issue are also set aside and the issue of fair market value is also remitted back to the file of the Assessing Officer. The Assessing Officer shall reconsider the issue of the fair market value and decide the same in accordance with law after giving reasonable opportunity of hearing to the assessee. - Matter remanded back - Decided in favour of assessee.
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