https://www.taxtmi.com/caselaws?id=789055 In computing capital gains under Section 50C of the Income-tax Act, the Court held that the guideline value fixed in probate proceedings had to be adopted on the facts of the case, rather than the higher stamp valuation used by the Assessing Officer. Relying on the co-owner's case and an earlier decision of the same Court, it treated the relevant guideline value as the correct basis for working out capital gains as on the specified date. The lower orders were therefore set aside, and the Assessing Officer was directed to recompute the capital gains after giving the assessee a reasonable opportunity. en-us Tue, 10 Mar 2026 00:00:00 +0530 Thu, 02 Apr 2026 08:50:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789055 In computing capital gains under Section 50C of the Income-tax Act, the Court held that the guideline value fixed in probate proceedings had to be adopted on the facts of the case, rather than the higher stamp valuation used by the Assessing Officer. Relying on the co-owner's case and an earlier decision of the same Court, it treated the relevant guideline value as the correct basis for working out capital gains as on the specified date. The lower orders were therefore set aside, and the Assessing Officer was directed to recompute the capital gains after giving the assessee a reasonable opportunity. Case-Laws Income Tax Tue, 10 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789055