https://www.taxtmi.com/caselaws?id=5393 Section 52(2) of the Income-tax Act, 1961 applies only where the consideration for transfer of a capital asset is understated, meaning the declared consideration is less than what was actually received. The Revenue bears the burden of proving such understatement or concealment. On the Tribunal's finding that there was no understatement and no basis to infer receipt of more than the declared amount, the provision was held inapplicable. On that footing, the matter did not raise a referable question of law, and no direction to call for a reference under section 256(2) was warranted. en-us Thu, 10 Sep 1992 00:00:00 +0530 Fri, 10 Feb 2017 15:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5393 Section 52(2) of the Income-tax Act, 1961 applies only where the consideration for transfer of a capital asset is understated, meaning the declared consideration is less than what was actually received. The Revenue bears the burden of proving such understatement or concealment. On the Tribunal's finding that there was no understatement and no basis to infer receipt of more than the declared amount, the provision was held inapplicable. On that footing, the matter did not raise a referable question of law, and no direction to call for a reference under section 256(2) was warranted. Case-Laws Income Tax Thu, 10 Sep 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5393