https://www.taxtmi.com/caselaws?id=470621 Fair market value as on 1 April 1981 for indexed cost computation under section 50C must be supported by comparable sales and relevant land-value factors, including location, size, utility and future potential. A valuation rate materially below comparable sale rates, without adequate justification, is arbitrary. For the two properties, fair market value was adopted at Rs.80 per square metre, affecting the indexed cost of acquisition and taxable long-term capital gains in favour of the assessee. en-us Mon, 08 May 2023 00:00:00 +0530 Mon, 03 Aug 2026 11:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470621 Fair market value as on 1 April 1981 for indexed cost computation under section 50C must be supported by comparable sales and relevant land-value factors, including location, size, utility and future potential. A valuation rate materially below comparable sale rates, without adequate justification, is arbitrary. For the two properties, fair market value was adopted at Rs.80 per square metre, affecting the indexed cost of acquisition and taxable long-term capital gains in favour of the assessee. Case-Laws Income Tax Mon, 08 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470621