https://www.taxtmi.com/caselaws?id=792964 Section 50C substitution is not warranted where reliable valuation evidence shows that the immovable property's fair market value is below the declared sale consideration and the property is subject to restrictive land-use conditions affecting marketability. The note emphasises that a registered valuer's report, supported by local circumstances such as no-development constraints, reduced accessibility and comparable evidence, can undermine the factual basis for adopting a higher DVO valuation. On those facts, the declared consideration was accepted and the capital-gains addition based on substituted value was deleted. en-us Fri, 15 May 2026 00:00:00 +0530 Sat, 06 Jun 2026 08:42:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792964 Section 50C substitution is not warranted where reliable valuation evidence shows that the immovable property's fair market value is below the declared sale consideration and the property is subject to restrictive land-use conditions affecting marketability. The note emphasises that a registered valuer's report, supported by local circumstances such as no-development constraints, reduced accessibility and comparable evidence, can undermine the factual basis for adopting a higher DVO valuation. On those facts, the declared consideration was accepted and the capital-gains addition based on substituted value was deleted. Case-Laws Income Tax Fri, 15 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792964