https://www.taxtmi.com/caselaws?id=205657 The Tribunal ruled in favor of the assessee, holding that the value declared by the assessee on the date of the sale agreement should be used for computing capital gains, rather than the value adopted by the stamp valuation authority. As a result, no addition was warranted, and the CIT(A)'s decision was overturned. The appeal of the assessee was successful, and the addition made by the Income Tax Officer under Section 50C of the Income Tax Act, 1961 was directed to be deleted. en-us Fri, 10 Dec 2010 00:00:00 +0530 Thu, 15 Sep 2011 11:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205657 The Tribunal ruled in favor of the assessee, holding that the value declared by the assessee on the date of the sale agreement should be used for computing capital gains, rather than the value adopted by the stamp valuation authority. As a result, no addition was warranted, and the CIT(A)'s decision was overturned. The appeal of the assessee was successful, and the addition made by the Income Tax Officer under Section 50C of the Income Tax Act, 1961 was directed to be deleted. Case-Laws Income Tax Fri, 10 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205657