https://www.taxtmi.com/caselaws?id=381392 Where the fair market value adopted for land as on 1.4.1981 was challenged, the Tribunal held that the valuation required closer scrutiny because the report was not shown to be from a registered valuer at the relevant stage and appeared to rest on unreliable extrapolation; the matter was remitted for fresh valuation with departmental assistance. For unlisted shares, the Net Asset Value method was a recognised basis, and in the absence of material showing sham, understatement, or non-genuine sale, the deletion of disallowance of short-term and long-term capital loss was upheld. en-us Mon, 03 Jun 2019 00:00:00 +0530 Tue, 11 Jun 2019 06:26:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381392 Where the fair market value adopted for land as on 1.4.1981 was challenged, the Tribunal held that the valuation required closer scrutiny because the report was not shown to be from a registered valuer at the relevant stage and appeared to rest on unreliable extrapolation; the matter was remitted for fresh valuation with departmental assistance. For unlisted shares, the Net Asset Value method was a recognised basis, and in the absence of material showing sham, understatement, or non-genuine sale, the deletion of disallowance of short-term and long-term capital loss was upheld. Case-Laws Income Tax Mon, 03 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381392