https://www.taxtmi.com/caselaws?id=784986 Long term capital gains arose on sale of agricultural land where the sale consideration was assessed at circle rate rather than actual sale price; application of the substitution of consideration rule to adopt the circle rate as sale consideration is applied, and that adoption stands. For uniformity, the purchase cost as on the base date is to be taken at Rs 50,000 per bigha as already accepted in a co-owner's final order, and the assessee's taxable capital gain is to be computed on only a one-eleventh share. Relief granted is partial, directing recomputation of capital gains accordingly. en-us Wed, 26 Nov 2025 00:00:00 +0530 Thu, 15 Jan 2026 08:41:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784986 Long term capital gains arose on sale of agricultural land where the sale consideration was assessed at circle rate rather than actual sale price; application of the substitution of consideration rule to adopt the circle rate as sale consideration is applied, and that adoption stands. For uniformity, the purchase cost as on the base date is to be taken at Rs 50,000 per bigha as already accepted in a co-owner's final order, and the assessee's taxable capital gain is to be computed on only a one-eleventh share. Relief granted is partial, directing recomputation of capital gains accordingly. Case-Laws Income Tax Wed, 26 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784986