https://www.taxtmi.com/caselaws?id=409032 Section 50C could not be applied mechanically where the transferred land remained subject to the Urban Land Ceiling Act and the sale deeds were executed before that regime was repealed. Because the statutory restrictions materially affected transferability and marketability, the stamp duty or SRO value was not a reliable substitute for the actual consideration. On those facts, adoption of the stamp valuation as the full value of consideration for capital gains computation was unsustainable, and the position favoured the assessee. en-us Thu, 27 May 2021 00:00:00 +0530 Mon, 28 Jun 2021 10:02:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409032 Section 50C could not be applied mechanically where the transferred land remained subject to the Urban Land Ceiling Act and the sale deeds were executed before that regime was repealed. Because the statutory restrictions materially affected transferability and marketability, the stamp duty or SRO value was not a reliable substitute for the actual consideration. On those facts, adoption of the stamp valuation as the full value of consideration for capital gains computation was unsustainable, and the position favoured the assessee. Case-Laws Income Tax Thu, 27 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409032