https://www.taxtmi.com/caselaws?id=792849 Capital gains on transfer of the two industrial units had to be computed under the integrated scheme of sections 45, 48 and 55, so gross sale proceeds could not be taxed without allowing permissible deductions and valuation adjustments. Where the assets were acquired before 01.04.2001, the assessee was entitled to adopt fair market value on that date as cost of acquisition under section 55(2)(b), and approved valuer reports could not be rejected without contrary material or technical defect. The claim for transfer premium paid to MIDC also required factual verification. The computation issues were set aside and the matter restored for fresh assessment and recomputation. en-us Tue, 02 Jun 2026 00:00:00 +0530 Thu, 04 Jun 2026 08:37:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792849 Capital gains on transfer of the two industrial units had to be computed under the integrated scheme of sections 45, 48 and 55, so gross sale proceeds could not be taxed without allowing permissible deductions and valuation adjustments. Where the assets were acquired before 01.04.2001, the assessee was entitled to adopt fair market value on that date as cost of acquisition under section 55(2)(b), and approved valuer reports could not be rejected without contrary material or technical defect. The claim for transfer premium paid to MIDC also required factual verification. The computation issues were set aside and the matter restored for fresh assessment and recomputation. Case-Laws Income Tax Tue, 02 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792849