https://www.taxtmi.com/caselaws?id=19158 Section 52(2) of the Income-tax Act, 1961 can be invoked only where there is material showing that consideration higher than the sale deed amount actually passed between the parties. In the absence of proof of understatement or extra consideration, the recorded sale price cannot be displaced merely because the property's market value is estimated to be higher. The Tribunal's finding that no such proof existed was consistent with the Supreme Court's position, and the declared sale consideration was rightly adopted for capital gains computation. en-us Wed, 09 Nov 1994 00:00:00 +0530 Wed, 04 Nov 2009 13:23:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19158 Section 52(2) of the Income-tax Act, 1961 can be invoked only where there is material showing that consideration higher than the sale deed amount actually passed between the parties. In the absence of proof of understatement or extra consideration, the recorded sale price cannot be displaced merely because the property's market value is estimated to be higher. The Tribunal's finding that no such proof existed was consistent with the Supreme Court's position, and the declared sale consideration was rightly adopted for capital gains computation. Case-Laws Income Tax Wed, 09 Nov 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19158