https://www.taxtmi.com/caselaws?id=28231 Section 52 of the Income-tax Act, 1961 could not be invoked because the Revenue failed to prove actual understatement of sale consideration. In the absence of material showing understatement, fair market value could not be substituted for the stated price to compute capital gains. On that factual basis, no taxable capital gain arose on the Revenue's adopted method, and the assessee's position was upheld. en-us Tue, 11 Jan 1983 00:00:00 +0530 Fri, 19 Feb 2010 17:44:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28231 Section 52 of the Income-tax Act, 1961 could not be invoked because the Revenue failed to prove actual understatement of sale consideration. In the absence of material showing understatement, fair market value could not be substituted for the stated price to compute capital gains. On that factual basis, no taxable capital gain arose on the Revenue's adopted method, and the assessee's position was upheld. Case-Laws Income Tax Tue, 11 Jan 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28231