https://www.taxtmi.com/caselaws?id=176981 The Tribunal upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s order in a case concerning the valuation of property for capital gains determination under section 48 of the Income Tax Act. The Tribunal affirmed that the fair market value determined by the valuation officer, as per section 50C(2), should be considered as the full value of sale consideration for computing capital gains, even if it differs from the stamp duty valuation. The Tribunal dismissed the Revenue's appeal, emphasizing the significance of adhering to the valuation officer's determination in valuation disputes. en-us Fri, 10 Apr 2015 00:00:00 +0530 Fri, 01 Jan 2016 10:51:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176981 The Tribunal upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s order in a case concerning the valuation of property for capital gains determination under section 48 of the Income Tax Act. The Tribunal affirmed that the fair market value determined by the valuation officer, as per section 50C(2), should be considered as the full value of sale consideration for computing capital gains, even if it differs from the stamp duty valuation. The Tribunal dismissed the Revenue's appeal, emphasizing the significance of adhering to the valuation officer's determination in valuation disputes. Case-Laws Income Tax Fri, 10 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176981