https://www.taxtmi.com/caselaws?id=26801 Section 52(2) of the Income-tax Act applies only where the consideration for transfer of a capital asset is proved to have been understated, meaning the declared price is less than what was actually received. In the absence of evidence of understatement or concealment, and where the transfer is shown to be honest and bona fide, the provision cannot be invoked. The burden of proving understatement lies on the Revenue. On the facts stated, section 52(2) did not apply and the capital gains addition based on that provision could not be sustained. en-us Thu, 11 Jul 1985 00:00:00 +0530 Mon, 08 Feb 2010 15:28:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26801 Section 52(2) of the Income-tax Act applies only where the consideration for transfer of a capital asset is proved to have been understated, meaning the declared price is less than what was actually received. In the absence of evidence of understatement or concealment, and where the transfer is shown to be honest and bona fide, the provision cannot be invoked. The burden of proving understatement lies on the Revenue. On the facts stated, section 52(2) did not apply and the capital gains addition based on that provision could not be sustained. Case-Laws Income Tax Thu, 11 Jul 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26801