https://www.taxtmi.com/caselaws?id=69279 Section 52(2) of the Income-tax Act, 1961 applies only where there is material showing understatement of sale consideration or receipt of additional consideration beyond the amount recorded in the transfer document. In the absence of evidence of extra receipt, the deeming fiction cannot be invoked merely because the fair market value is alleged to exceed the declared consideration. The Tribunal therefore held that the consideration stated in the sale deed had to be adopted for computing capital gains, and the assessee's computation based on the declared sale price was sustained. en-us Tue, 01 May 1979 00:00:00 +0530 Wed, 06 Apr 2011 10:55:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69279 Section 52(2) of the Income-tax Act, 1961 applies only where there is material showing understatement of sale consideration or receipt of additional consideration beyond the amount recorded in the transfer document. In the absence of evidence of extra receipt, the deeming fiction cannot be invoked merely because the fair market value is alleged to exceed the declared consideration. The Tribunal therefore held that the consideration stated in the sale deed had to be adopted for computing capital gains, and the assessee's computation based on the declared sale price was sustained. Case-Laws Income Tax Tue, 01 May 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69279