https://www.taxtmi.com/caselaws?id=773654 The ITAT Kolkata ruled in favor of the assessee regarding LTCG calculation on sale of land and building where assessee held 1/4th share. The AO had calculated capital gains using stamp duty valuation, but the assessee objected to this valuation. A DVO report valued the property at Rs.12,07,89,700/-, making the assessee's share Rs.3,01,97,425/-. Since the difference between DVO valuation and declared sale consideration was less than 5%, the assessee qualified for safe harbour provisions under Section 50C's 3rd proviso. The CIT(A) had already decided in assessee's favor, which ITAT upheld. en-us Mon, 23 Jun 2025 00:00:00 +0530 Thu, 26 Jun 2025 08:35:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773654 The ITAT Kolkata ruled in favor of the assessee regarding LTCG calculation on sale of land and building where assessee held 1/4th share. The AO had calculated capital gains using stamp duty valuation, but the assessee objected to this valuation. A DVO report valued the property at Rs.12,07,89,700/-, making the assessee's share Rs.3,01,97,425/-. Since the difference between DVO valuation and declared sale consideration was less than 5%, the assessee qualified for safe harbour provisions under Section 50C's 3rd proviso. The CIT(A) had already decided in assessee's favor, which ITAT upheld. Case-Laws Income Tax Mon, 23 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773654