https://www.taxtmi.com/caselaws?id=785624 Capital gains computation under section 50C concerns application of the circle rate multiplicative factor determined by the recorded character of land. The legal basis is that revenue records identifying land as agricultural/residential govern circle rate characterisation, and unauthorised commercial use alone does not effect deemed conversion unless recognised by revenue authorities; consequence: the multiplicative factor of 1 must be applied and an assessing officer's application of factor 3 based on actual use is invalid, resulting in a ruling for reduction of the circle rate valuation. en-us Fri, 23 Jan 2026 00:00:00 +0530 Wed, 28 Jan 2026 07:26:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785624 Capital gains computation under section 50C concerns application of the circle rate multiplicative factor determined by the recorded character of land. The legal basis is that revenue records identifying land as agricultural/residential govern circle rate characterisation, and unauthorised commercial use alone does not effect deemed conversion unless recognised by revenue authorities; consequence: the multiplicative factor of 1 must be applied and an assessing officer's application of factor 3 based on actual use is invalid, resulting in a ruling for reduction of the circle rate valuation. Case-Laws Income Tax Fri, 23 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785624