https://www.taxtmi.com/caselaws?id=296143 Section 50C permits substitution of declared sale consideration only with the value adopted or assessed by the stamp valuation authority where declared consideration is lower; it does not support an unsupported market-value enhancement without evidence of additional consideration. The capital-gains addition based on an estimated higher rate was therefore deleted. For indexed cost of acquisition, the registered valuer's supported estimate of the land's fair market value was accepted because the Revenue's lower valuation relied on unreliable comparables and lacked adequate supporting material. The assessee's valuation was consequently adopted for computing capital gains. en-us Fri, 09 Apr 2010 00:00:00 +0530 Tue, 06 Jul 2021 11:17:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296143 Section 50C permits substitution of declared sale consideration only with the value adopted or assessed by the stamp valuation authority where declared consideration is lower; it does not support an unsupported market-value enhancement without evidence of additional consideration. The capital-gains addition based on an estimated higher rate was therefore deleted. For indexed cost of acquisition, the registered valuer's supported estimate of the land's fair market value was accepted because the Revenue's lower valuation relied on unreliable comparables and lacked adequate supporting material. The assessee's valuation was consequently adopted for computing capital gains. Case-Laws Income Tax Fri, 09 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296143