https://www.taxtmi.com/caselaws?id=786221 Where a transferred capital asset is land, the valuaton finally determined for stamp purposes by an authority or court must be treated as the adoptable assessable value for the deeming fiction under section 50C, and that value (Rs.1,60,31,000) was held to replace a higher provisional figure for computing long term capital gains. Separately, the tribunal held that the deemed sale value under section 50C cannot be treated as the assessee's net consideration for claiming the capital gains exemption on reinvestment in a residential house; applying the impossibility principle, the full exemption under the residential investment provision was allowed since actual net consideration was invested. Appeal allowed. en-us Thu, 05 Feb 2026 00:00:00 +0530 Mon, 09 Feb 2026 09:18:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786221 Where a transferred capital asset is land, the valuaton finally determined for stamp purposes by an authority or court must be treated as the adoptable assessable value for the deeming fiction under section 50C, and that value (Rs.1,60,31,000) was held to replace a higher provisional figure for computing long term capital gains. Separately, the tribunal held that the deemed sale value under section 50C cannot be treated as the assessee's net consideration for claiming the capital gains exemption on reinvestment in a residential house; applying the impossibility principle, the full exemption under the residential investment provision was allowed since actual net consideration was invested. Appeal allowed. Case-Laws Income Tax Thu, 05 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786221