https://www.taxtmi.com/caselaws?id=25442 The Andhra Pradesh High Court ruled in favor of the assessee in a case concerning the interpretation of section 52(2) of the Income-tax Act, 1961. The court held that the prior approval requirement for estimating fair market value under section 52(2) was not applicable in the absence of understatement of sale price in the deeds. As there was no allegation of understatement in the case, the court concluded that section 52(2) did not apply, leading to a decision in favor of the assessee and against the Revenue. en-us Thu, 18 Dec 1986 00:00:00 +0530 Thu, 28 Jan 2010 16:02:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25442 The Andhra Pradesh High Court ruled in favor of the assessee in a case concerning the interpretation of section 52(2) of the Income-tax Act, 1961. The court held that the prior approval requirement for estimating fair market value under section 52(2) was not applicable in the absence of understatement of sale price in the deeds. As there was no allegation of understatement in the case, the court concluded that section 52(2) did not apply, leading to a decision in favor of the assessee and against the Revenue. Case-Laws Income Tax Thu, 18 Dec 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25442