https://www.taxtmi.com/caselaws?id=390317 Transferred tenanted properties sold to the occupants on an as-is-where-is basis must be valued for section 50C purposes in a manner that reflects their rental character and rent restrictions, rather than as open-market owner-occupied properties. The text states that a reference to the Valuation Officer under section 50C(2), read with the valuation framework under section 16A of the Wealth-tax Act and Rule 3 of Schedule III, supports use of the Rent Capitalization Method for rented buildings. On those facts, valuation by the land and building method, including CPWD rates and reduced depreciation, was not accepted as the proper basis, and capital gains were to be recomputed accordingly. en-us Thu, 19 Dec 2019 00:00:00 +0530 Sun, 29 Dec 2019 09:50:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390317 Transferred tenanted properties sold to the occupants on an as-is-where-is basis must be valued for section 50C purposes in a manner that reflects their rental character and rent restrictions, rather than as open-market owner-occupied properties. The text states that a reference to the Valuation Officer under section 50C(2), read with the valuation framework under section 16A of the Wealth-tax Act and Rule 3 of Schedule III, supports use of the Rent Capitalization Method for rented buildings. On those facts, valuation by the land and building method, including CPWD rates and reduced depreciation, was not accepted as the proper basis, and capital gains were to be recomputed accordingly. Case-Laws Income Tax Thu, 19 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390317