https://www.taxtmi.com/caselaws?id=466511 Circle-rate valuation under Section 50C can be displaced where the recorded consideration does not reflect true market value due to exceptional circumstances; the Tribunal held that evidence of a compelled sale to an occupying tenant and part payment by account payee cheques in April 2012 established a distress sale, warranting substitution by fair market value. The matter is remanded to the Assessing Officer to determine fair market value as of the agreement date, after affording the assessee a reasonable opportunity of being heard, and to recompute long term capital gains accordingly (appeal partly allowed). en-us Thu, 27 Feb 2025 00:00:00 +0530 Tue, 10 Feb 2026 19:01:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466511 Circle-rate valuation under Section 50C can be displaced where the recorded consideration does not reflect true market value due to exceptional circumstances; the Tribunal held that evidence of a compelled sale to an occupying tenant and part payment by account payee cheques in April 2012 established a distress sale, warranting substitution by fair market value. The matter is remanded to the Assessing Officer to determine fair market value as of the agreement date, after affording the assessee a reasonable opportunity of being heard, and to recompute long term capital gains accordingly (appeal partly allowed). Case-Laws Income Tax Thu, 27 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466511