https://www.taxtmi.com/caselaws?id=794889 Fair market value of land as at 1 April 1981 for long-term capital gains was fixed at Rs. 350 per sq. ft. after the revenue valuation was found inconsistent with comparable sales, while the claimed value lacked complete support. Capital gains on a separate parcel were taxable in A.Y. 2013-14 because the earlier agreement did not establish possession in part performance or any pre-registration transfer; the registered conveyance date governed taxability. An additional exemption claim under Section 54F could be raised at the appellate stage, but required verification of its factual conditions and was restored for fresh examination. en-us Mon, 04 May 2026 00:00:00 +0530 Tue, 14 Jul 2026 08:26:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794889 Fair market value of land as at 1 April 1981 for long-term capital gains was fixed at Rs. 350 per sq. ft. after the revenue valuation was found inconsistent with comparable sales, while the claimed value lacked complete support. Capital gains on a separate parcel were taxable in A.Y. 2013-14 because the earlier agreement did not establish possession in part performance or any pre-registration transfer; the registered conveyance date governed taxability. An additional exemption claim under Section 54F could be raised at the appellate stage, but required verification of its factual conditions and was restored for fresh examination. Case-Laws Income Tax Mon, 04 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794889