https://www.taxtmi.com/caselaws?id=207984 Section 50C applies only where the stamp valuation authority actually adopts or assesses a higher value for the transfer; the Assessing Officer cannot substitute a notional stamp value, so the assessee succeeded subject to verification of the value actually adopted. For computing holding period, land given in possession under an agreement to sell in part performance is treated as transferred under section 2(47)(v) read with section 53A of the Transfer of Property Act, so the land was held to be a long-term capital asset. Capital loss on transfer of unquoted shares was allowable because the transfer was evidenced by the deed, share certificate and company records, and no defect in valuation or genuineness was shown. en-us Fri, 29 Apr 2011 00:00:00 +0530 Sat, 31 Dec 2011 23:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207984 Section 50C applies only where the stamp valuation authority actually adopts or assesses a higher value for the transfer; the Assessing Officer cannot substitute a notional stamp value, so the assessee succeeded subject to verification of the value actually adopted. For computing holding period, land given in possession under an agreement to sell in part performance is treated as transferred under section 2(47)(v) read with section 53A of the Transfer of Property Act, so the land was held to be a long-term capital asset. Capital loss on transfer of unquoted shares was allowable because the transfer was evidenced by the deed, share certificate and company records, and no defect in valuation or genuineness was shown. Case-Laws Income Tax Fri, 29 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207984