https://www.taxtmi.com/caselaws?id=792978 Capital gains on immovable property accrue in the year of registered conveyance where the agreement to sell does not transfer possession in part performance. Cost of acquisition requires fair market value to be determined after properly considering objections to the valuation report; private valuation and averaging methods are insufficient. The first proviso to section 50C may apply retrospectively where part consideration is received through account-payee banking channels, mitigating hardship from stamp-value substitution. Section 54 relief for construction of a new residential house may cover construction expenditure even if the plot was purchased earlier, subject to verification of the expenses and compliance with rule 46A. en-us Wed, 03 Jun 2026 00:00:00 +0530 Sat, 06 Jun 2026 08:42:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792978 Capital gains on immovable property accrue in the year of registered conveyance where the agreement to sell does not transfer possession in part performance. Cost of acquisition requires fair market value to be determined after properly considering objections to the valuation report; private valuation and averaging methods are insufficient. The first proviso to section 50C may apply retrospectively where part consideration is received through account-payee banking channels, mitigating hardship from stamp-value substitution. Section 54 relief for construction of a new residential house may cover construction expenditure even if the plot was purchased earlier, subject to verification of the expenses and compliance with rule 46A. Case-Laws Income Tax Wed, 03 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792978