https://www.taxtmi.com/caselaws?id=28786 The judgment in this case pertains to the assessment of capital gains on the sale of a property under the Income Tax Act, 1961. The Tribunal ruled in favor of the assessee, emphasizing the burden of proof on the Revenue to establish understatement of consideration to invoke section 52 of the Act. The judgment highlighted the close connection between the parties involved and distinguished the case from cited legal precedents. Ultimately, the Tribunal dismissed the assessee's appeal, directing the parties to bear their own costs, with both judges concurring with the decision. en-us Mon, 22 Mar 1982 00:00:00 +0530 Thu, 25 Feb 2010 16:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28786 The judgment in this case pertains to the assessment of capital gains on the sale of a property under the Income Tax Act, 1961. The Tribunal ruled in favor of the assessee, emphasizing the burden of proof on the Revenue to establish understatement of consideration to invoke section 52 of the Act. The judgment highlighted the close connection between the parties involved and distinguished the case from cited legal precedents. Ultimately, the Tribunal dismissed the assessee's appeal, directing the parties to bear their own costs, with both judges concurring with the decision. Case-Laws Income Tax Mon, 22 Mar 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28786