https://www.taxtmi.com/caselaws?id=65782 The transfer of immovable property for capital gains purposes turned on whether the declared sale consideration could be replaced by a higher fair market value. The Tribunal noted that the assessee sold land with a building for the stated price, and the record did not show that the transaction was structured to avoid or reduce capital gains tax. Relying on the earlier precedent cited by the assessee, it accepted the declared consideration and held that substitution of a higher value was not justified. en-us Thu, 23 Feb 1984 00:00:00 +0530 Fri, 18 Feb 2011 17:03:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65782 The transfer of immovable property for capital gains purposes turned on whether the declared sale consideration could be replaced by a higher fair market value. The Tribunal noted that the assessee sold land with a building for the stated price, and the record did not show that the transaction was structured to avoid or reduce capital gains tax. Relying on the earlier precedent cited by the assessee, it accepted the declared consideration and held that substitution of a higher value was not justified. Case-Laws Income Tax Thu, 23 Feb 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65782