https://www.taxtmi.com/highlights?id=68684 Capital Gain - Addition made by enhancing the sale consideration of the property sold - value u/s 50C - neither the AO nor the Ld. CIT(A) have brought on record any direct evidence to prove that extra consideration has been received by the appellant over and above the consideration as per sale agreement. Further, the Ld. CIT(A) failed to rebut the contention of the Ld. AR on the issue of determination of value of sale consideration for the purpose of capital gains u/s 50C of the Act. Therefore, the addition made on the basis of presumption, assumption and conjecture would not be sustained under the law. - AT en-us Sat, 11 Mar 2023 08:49:26 +0530 Sat, 11 Mar 2023 08:49:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=68684 Capital Gain - Addition made by enhancing the sale consideration of the property sold - value u/s 50C - neither the AO nor the Ld. CIT(A) have brought on record any direct evidence to prove that extra consideration has been received by the appellant over and above the consideration as per sale agreement. Further, the Ld. CIT(A) failed to rebut the contention of the Ld. AR on the issue of determination of value of sale consideration for the purpose of capital gains u/s 50C of the Act. Therefore, the addition made on the basis of presumption, assumption and conjecture would not be sustained under the law. - AT Highlights Income Tax Sat, 11 Mar 2023 08:49:26 +0530 https://www.taxtmi.com/highlights?id=68684