https://www.taxtmi.com/caselaws?id=325177 Capital gains on an unregistered transfer of immovable property were to be computed on a legally supportable full value of consideration, and the section 50C issue depended on the relevant statutory position for the assessment year. Where the stamp valuation authority had not adopted a value, the Departmental Valuation Officer's estimate under section 55A could be used for the office premises, subject to a further 10% reduction accepted on the assessee's objection. The Assessing Officer was also required to verify the correct opening book value. The entire addition could not be deleted; instead, the capital-gain addition was sustained only in part and had to be recomputed accordingly. en-us Fri, 29 Jan 2016 00:00:00 +0530 Sat, 12 Mar 2016 09:13:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325177 Capital gains on an unregistered transfer of immovable property were to be computed on a legally supportable full value of consideration, and the section 50C issue depended on the relevant statutory position for the assessment year. Where the stamp valuation authority had not adopted a value, the Departmental Valuation Officer's estimate under section 55A could be used for the office premises, subject to a further 10% reduction accepted on the assessee's objection. The Assessing Officer was also required to verify the correct opening book value. The entire addition could not be deleted; instead, the capital-gain addition was sustained only in part and had to be recomputed accordingly. Case-Laws Income Tax Fri, 29 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325177