https://www.taxtmi.com/caselaws?id=268731 For computation of capital gains on transfer of unquoted equity shares, the actual sale consideration received governs section 48 of the Income-tax Act, 1961. The assessing authority cannot substitute that consideration with fair market value or a valuation derived from another group company unless the Act expressly permits such substitution. The distinction between full value of consideration and fair market value is controlling, and in the absence of evidence that the assessee received more than the declared price, no addition can be sustained. en-us Fri, 20 Nov 2015 00:00:00 +0530 Tue, 01 Dec 2015 00:55:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268731 For computation of capital gains on transfer of unquoted equity shares, the actual sale consideration received governs section 48 of the Income-tax Act, 1961. The assessing authority cannot substitute that consideration with fair market value or a valuation derived from another group company unless the Act expressly permits such substitution. The distinction between full value of consideration and fair market value is controlling, and in the absence of evidence that the assessee received more than the declared price, no addition can be sustained. Case-Laws Income Tax Fri, 20 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268731