https://www.taxtmi.com/caselaws?id=176901 The Tribunal held that Section 50C should be applied based on the market conditions at the time of the sale agreement, not the date of the sale deed. They directed the AO to re-compute the capital gains considering the market value as on the date of the sale agreement, supported by the certificate from the Joint Sub Registrar. Consequently, the order of the CIT(A) was reversed, and the appeal was allowed for statistical purposes. The assessee's appeal was treated as allowed, with directions for re-computation of capital gains based on the market value at the time of the sale agreement. en-us Tue, 22 Jun 2010 00:00:00 +0530 Sat, 09 Sep 2023 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176901 The Tribunal held that Section 50C should be applied based on the market conditions at the time of the sale agreement, not the date of the sale deed. They directed the AO to re-compute the capital gains considering the market value as on the date of the sale agreement, supported by the certificate from the Joint Sub Registrar. Consequently, the order of the CIT(A) was reversed, and the appeal was allowed for statistical purposes. The assessee's appeal was treated as allowed, with directions for re-computation of capital gains based on the market value at the time of the sale agreement. Case-Laws Income Tax Tue, 22 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176901