https://www.taxtmi.com/caselaws?id=464382 ITAT, MUMBAI held the deed sale consideration of Rs. 50 lakh must be accepted as the fair market value for computing long-term capital gains, rejecting the DVO's arbitrary adoption of 50% of FMV. The Tribunal found no legal basis for discounting the sale price by 50% where the taxpayer had no choice but to sell to a possessor/consenting party and the transaction was at arm's length. The AO is directed to compute capital gains on the Rs. 50 lakh sale consideration; grounds 1 and 2 allowed. en-us Thu, 26 Dec 2019 00:00:00 +0530 Mon, 27 Oct 2025 11:10:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464382 ITAT, MUMBAI held the deed sale consideration of Rs. 50 lakh must be accepted as the fair market value for computing long-term capital gains, rejecting the DVO's arbitrary adoption of 50% of FMV. The Tribunal found no legal basis for discounting the sale price by 50% where the taxpayer had no choice but to sell to a possessor/consenting party and the transaction was at arm's length. The AO is directed to compute capital gains on the Rs. 50 lakh sale consideration; grounds 1 and 2 allowed. Case-Laws Income Tax Thu, 26 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464382