https://www.taxtmi.com/caselaws?id=470044 Determining the fair market value of property as on 1 April 1981 is material for computing long-term capital gains under the Income-tax Act, 1961. The valuation analysis considers comparable sale instances, the property's superior location and size, and the fact that the comparable property was tenanted. The material indicates that the comparable instance supported a value above Rs. 100 per sq. ft., but did not substantiate the claimed value of Rs. 250 per sq. ft. The discussed valuation adopts Rs. 200 per sq. ft. as the reasonable fair market value for capital-gains computation. en-us Fri, 17 Sep 2010 00:00:00 +0530 Tue, 14 Jul 2026 16:26:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470044 Determining the fair market value of property as on 1 April 1981 is material for computing long-term capital gains under the Income-tax Act, 1961. The valuation analysis considers comparable sale instances, the property's superior location and size, and the fact that the comparable property was tenanted. The material indicates that the comparable instance supported a value above Rs. 100 per sq. ft., but did not substantiate the claimed value of Rs. 250 per sq. ft. The discussed valuation adopts Rs. 200 per sq. ft. as the reasonable fair market value for capital-gains computation. Case-Laws Income Tax Fri, 17 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470044