https://www.taxtmi.com/caselaws?id=12270 The High Court upheld the Tribunal's decision in favor of the assessee regarding the fair market value of a property for capital gains calculation. The court found the use of the Sub-Registrar's certificate and municipal tax assessment as valid indicators for valuation, emphasizing the importance of considering various factors in determining fair market value. The Revenue's challenge was dismissed as the High Court noted the absence of conflicting evidence to refute the valuation methods used. The judgment highlighted the necessity of a comprehensive assessment when direct sales data for comparison is unavailable. en-us Tue, 20 Aug 2002 00:00:00 +0530 Sat, 20 Feb 2010 16:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12270 The High Court upheld the Tribunal's decision in favor of the assessee regarding the fair market value of a property for capital gains calculation. The court found the use of the Sub-Registrar's certificate and municipal tax assessment as valid indicators for valuation, emphasizing the importance of considering various factors in determining fair market value. The Revenue's challenge was dismissed as the High Court noted the absence of conflicting evidence to refute the valuation methods used. The judgment highlighted the necessity of a comprehensive assessment when direct sales data for comparison is unavailable. Case-Laws Income Tax Tue, 20 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12270