https://www.taxtmi.com/caselaws?id=441837 For section 50C valuation, the sale consideration of agricultural land may not be substituted mechanically by the stamp valuation rate where the property is subject to material adverse factors affecting market value. A pipeline passing through the land, together with statutory restrictions on construction, excavation and related use under the Petroleum and Mineral Pipelines Act, was treated as a relevant valuation discount. The registered valuer's report and affidavit supported a lower market value, and the DVO's valuation was found not to have given proper effect to those constraints. On that basis, a 25% deduction from the DLC rate was accepted and the capital gains adjustment was set aside. en-us Wed, 09 Aug 2023 00:00:00 +0530 Mon, 17 Mar 2025 10:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441837 For section 50C valuation, the sale consideration of agricultural land may not be substituted mechanically by the stamp valuation rate where the property is subject to material adverse factors affecting market value. A pipeline passing through the land, together with statutory restrictions on construction, excavation and related use under the Petroleum and Mineral Pipelines Act, was treated as a relevant valuation discount. The registered valuer's report and affidavit supported a lower market value, and the DVO's valuation was found not to have given proper effect to those constraints. On that basis, a 25% deduction from the DLC rate was accepted and the capital gains adjustment was set aside. Case-Laws Income Tax Wed, 09 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441837