https://www.taxtmi.com/caselaws?id=471511 Fair market value of property as on 1 April 1981 for long-term capital gains computation requires reliable valuation evidence. An unsupported value adopted by the assessee cannot be accepted, while Sub-Registrar guidance value does not necessarily reflect fair market value. The Assessing Officer must refer the property to the Departmental Valuation Officer and determine the relevant fair market value on that basis. en-us Tue, 08 Apr 2025 00:00:00 +0530 Mon, 07 Sep 2026 19:20:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471511 Fair market value of property as on 1 April 1981 for long-term capital gains computation requires reliable valuation evidence. An unsupported value adopted by the assessee cannot be accepted, while Sub-Registrar guidance value does not necessarily reflect fair market value. The Assessing Officer must refer the property to the Departmental Valuation Officer and determine the relevant fair market value on that basis. Case-Laws Income Tax Tue, 08 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471511