https://www.taxtmi.com/caselaws?id=791697 Section 50C could not be applied to sustain a long-term capital gain addition without first verifying whether the impugned transactions were purchases or sales and whether the registered sale deeds were later cancelled. The record showed conflicting entries for the same properties at the same consideration, and the Assessing Officer's factual assumptions were not resolved on the available material. Because the cancellation deeds and supporting evidence were not on record, the correctness of the assessee's claim could not be determined. The matter was therefore remitted to the jurisdictional Assessing Officer for verification of the facts and fresh adjudication under the Act. en-us Wed, 13 May 2026 00:00:00 +0530 Fri, 15 May 2026 09:15:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791697 Section 50C could not be applied to sustain a long-term capital gain addition without first verifying whether the impugned transactions were purchases or sales and whether the registered sale deeds were later cancelled. The record showed conflicting entries for the same properties at the same consideration, and the Assessing Officer's factual assumptions were not resolved on the available material. Because the cancellation deeds and supporting evidence were not on record, the correctness of the assessee's claim could not be determined. The matter was therefore remitted to the jurisdictional Assessing Officer for verification of the facts and fresh adjudication under the Act. Case-Laws Income Tax Wed, 13 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791697