https://www.taxtmi.com/caselaws?id=272176 A registered sale deed transferring title and possession constituted a completed transfer of immovable property, so capital gains arose in the relevant year and the deeming fiction of section 50C applied; later cancellation or re-transfer did not undo the transfer. The assessee's challenge to the stamp valuation under section 50C(2) failed because no reliable claim or valuation material was produced to show that the stamp value exceeded fair market value. Section 54F relief was allowed only partially: the reacquisition of the plot was treated as qualifying investment, but the claimed construction expenditure was disallowed for lack of evidence, so deduction was confined to the proved amount. en-us Fri, 29 Jan 2016 00:00:00 +0530 Mon, 29 Feb 2016 01:09:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272176 A registered sale deed transferring title and possession constituted a completed transfer of immovable property, so capital gains arose in the relevant year and the deeming fiction of section 50C applied; later cancellation or re-transfer did not undo the transfer. The assessee's challenge to the stamp valuation under section 50C(2) failed because no reliable claim or valuation material was produced to show that the stamp value exceeded fair market value. Section 54F relief was allowed only partially: the reacquisition of the plot was treated as qualifying investment, but the claimed construction expenditure was disallowed for lack of evidence, so deduction was confined to the proved amount. Case-Laws Income Tax Fri, 29 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272176