Court Criticizes Revenue Authorities for Errors in Calculating Capital Gains on Ancestral Property's Fair Market Value.

Capital gain computation - ancestral property devolved and jointly owned with other co-owners - fair market value (FMV) of the immovable property as on 01.04.1981 - Action of the Revenue is seriously marred by multiple and intrinsic legal infirmities and violation of principles of natural justice. .....

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