https://www.taxtmi.com/caselaws?id=243476 A reference to the Departmental Valuation Officer could not be used to determine the full value of consideration for capital gains under section 48, because section 55A is confined to ascertaining fair market value and does not govern sale consideration; the separate deeming rule in section 50C was not applicable on the facts. A further reference to value the asset as on 1 April 1981 was also incompetent, as the statutory conditions then in force under section 55A were not satisfied in a registered valuer case. The Revenue's challenge to deletion of the capital gains addition therefore failed. en-us Tue, 21 Jan 2014 00:00:00 +0530 Tue, 14 Apr 2026 12:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243476 A reference to the Departmental Valuation Officer could not be used to determine the full value of consideration for capital gains under section 48, because section 55A is confined to ascertaining fair market value and does not govern sale consideration; the separate deeming rule in section 50C was not applicable on the facts. A further reference to value the asset as on 1 April 1981 was also incompetent, as the statutory conditions then in force under section 55A were not satisfied in a registered valuer case. The Revenue's challenge to deletion of the capital gains addition therefore failed. Case-Laws Income Tax Tue, 21 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243476