https://www.taxtmi.com/caselaws?id=11828 In determining capital gains arising from a land transfer unearthed during a search under s.132, the dominant issue was whether the stated consideration in a registered sale deed could be disregarded on the basis of a prior agreement/receipt indicating a higher figure. The HC held that the consideration in the sale deed must ordinarily be accepted unless the Revenue proves that the agreement was acted upon and that the higher amount was actually paid; mere existence of an agreement or receipt is insufficient. On the evidence, including findings in the purchaser's assessment, the Tribunal's conclusion that the sale price was Rs. 8,000 per cent and not the higher figure was upheld, and the questions were answered for the assessee and against the Revenue. en-us Wed, 22 Jan 2003 00:00:00 +0530 Fri, 26 Dec 2025 15:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11828 In determining capital gains arising from a land transfer unearthed during a search under s.132, the dominant issue was whether the stated consideration in a registered sale deed could be disregarded on the basis of a prior agreement/receipt indicating a higher figure. The HC held that the consideration in the sale deed must ordinarily be accepted unless the Revenue proves that the agreement was acted upon and that the higher amount was actually paid; mere existence of an agreement or receipt is insufficient. On the evidence, including findings in the purchaser's assessment, the Tribunal's conclusion that the sale price was Rs. 8,000 per cent and not the higher figure was upheld, and the questions were answered for the assessee and against the Revenue. Case-Laws Income Tax Wed, 22 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11828