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2018 (2) TMI 598 - AT - Income TaxCapital gains taxabilty on sale of land - FMV determination - land was awarded free of cost by the Government - AO has also taken the cost of acquisition at nil - Held that:- Land in question does not fall in the category for which the cost of acquisition cannot be ascertained. Therefore, cost of acquisition of land in question would be fair market value as on 01.04.1981. Since, the AO has taken the cost of acquisition at nil. Therefore, we direct the AO to recomputed the capital gain by taking the cost of acquisition of the land as fair market value as on 01.04.1981.
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