https://www.taxtmi.com/caselaws?id=448085 The ITAT Delhi allowed the assessee's appeal regarding LTCG computation on unlisted equity shares. The AO had applied dual valuation - treating Rs 178.12 per share as deemed sale price under Section 50CA and taxing the excess at 40% as income from other sources. The ITAT held that Section 50CA applies only when actual sale consideration is less than FMV determined by NAV method. Since the assessee sold shares at Rs 233 per share, which exceeded the FMV of Rs 178.12 per share, Section 50CA was inapplicable. The entire sale consideration was properly treated as LTCG. en-us Thu, 28 Dec 2023 00:00:00 +0530 Wed, 10 Jan 2024 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448085 The ITAT Delhi allowed the assessee's appeal regarding LTCG computation on unlisted equity shares. The AO had applied dual valuation - treating Rs 178.12 per share as deemed sale price under Section 50CA and taxing the excess at 40% as income from other sources. The ITAT held that Section 50CA applies only when actual sale consideration is less than FMV determined by NAV method. Since the assessee sold shares at Rs 233 per share, which exceeded the FMV of Rs 178.12 per share, Section 50CA was inapplicable. The entire sale consideration was properly treated as LTCG. Case-Laws Income Tax Thu, 28 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448085