https://www.taxtmi.com/caselaws?id=467351 Determination of fair market value for capital gains computation requires selecting a value that reasonably reflects comparables and the overall factual matrix; where competing valuation reports diverge and one is evidently low, an intermediate rate may be adopted, resulting here in a fair market value fixed at Rs. 60 per sq. m. as on 01/04/1981. Claim for deduction under the reinvestment provision (section 54) is not disallowed on record but is remitted to the assessing officer for factual verification and allowance if statutory conditions are satisfied. en-us Thu, 20 Feb 2025 00:00:00 +0530 Sun, 15 Mar 2026 22:08:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467351 Determination of fair market value for capital gains computation requires selecting a value that reasonably reflects comparables and the overall factual matrix; where competing valuation reports diverge and one is evidently low, an intermediate rate may be adopted, resulting here in a fair market value fixed at Rs. 60 per sq. m. as on 01/04/1981. Claim for deduction under the reinvestment provision (section 54) is not disallowed on record but is remitted to the assessing officer for factual verification and allowance if statutory conditions are satisfied. Case-Laws Income Tax Thu, 20 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467351