https://www.taxtmi.com/caselaws?id=471143 Mortgage valuations furnished to meet development-project security requirements do not, by themselves, establish the actual sale price of commercial sites sold under registered sale deeds. The Revenue must produce cogent and credible evidence that purchasers paid consideration beyond the recorded amount before displacing the apparent consideration. A stated fair market value in a mortgage document, without proof of additional consideration passing to the seller, is insufficient to support an addition. Statutory value substitution under Section 50C does not apply on these facts, and additions based solely on mortgage valuation are unsustainable. en-us Thu, 27 Sep 2012 00:00:00 +0530 Sat, 22 Aug 2026 10:08:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471143 Mortgage valuations furnished to meet development-project security requirements do not, by themselves, establish the actual sale price of commercial sites sold under registered sale deeds. The Revenue must produce cogent and credible evidence that purchasers paid consideration beyond the recorded amount before displacing the apparent consideration. A stated fair market value in a mortgage document, without proof of additional consideration passing to the seller, is insufficient to support an addition. Statutory value substitution under Section 50C does not apply on these facts, and additions based solely on mortgage valuation are unsustainable. Case-Laws Income Tax Thu, 27 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471143