https://www.taxtmi.com/caselaws?id=26587 Section 52(2) of the Income-tax Act applies only where the consideration for transfer of a capital asset is understated, and the Revenue bears the burden of proving such understatement. Where the transfer is honest and bona fide and the actual consideration is correctly declared, the provision cannot be used to substitute an estimated fair market value for the declared sale price in computing capital gains under section 45. On the facts stated, section 52(2) could not be invoked, and the issue was answered in favour of the assessee. en-us Mon, 30 Sep 1985 00:00:00 +0530 Sat, 06 Feb 2010 11:59:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26587 Section 52(2) of the Income-tax Act applies only where the consideration for transfer of a capital asset is understated, and the Revenue bears the burden of proving such understatement. Where the transfer is honest and bona fide and the actual consideration is correctly declared, the provision cannot be used to substitute an estimated fair market value for the declared sale price in computing capital gains under section 45. On the facts stated, section 52(2) could not be invoked, and the issue was answered in favour of the assessee. Case-Laws Income Tax Mon, 30 Sep 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26587