https://www.taxtmi.com/caselaws?id=407044 The Tribunal ruled in favor of the assessee, directing the Assessing Officer to delete the addition of Rs. 11,63,168 to the taxable capital gain. The Tribunal emphasized that the small difference of 1.02% between the fair market value determined by the DVO and the actual sale consideration did not warrant invoking Section 50C. Referring to precedent, the Tribunal applied the curative amendment retrospectively, noting that minor variations in valuation could occur due to legitimate factors. The decision was issued on 28th April 2021. en-us Wed, 28 Apr 2021 00:00:00 +0530 Thu, 29 Apr 2021 10:24:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407044 The Tribunal ruled in favor of the assessee, directing the Assessing Officer to delete the addition of Rs. 11,63,168 to the taxable capital gain. The Tribunal emphasized that the small difference of 1.02% between the fair market value determined by the DVO and the actual sale consideration did not warrant invoking Section 50C. Referring to precedent, the Tribunal applied the curative amendment retrospectively, noting that minor variations in valuation could occur due to legitimate factors. The decision was issued on 28th April 2021. Case-Laws Income Tax Wed, 28 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407044