Taxability of long term capital gain on sale of immovable ...
Income Tax
January 4, 2024
Taxability of long term capital gain on sale of immovable property - value u/s 50C - difference in value determined by the SVA and DVO - These facts clearly establish that there can be difference in valuation of property at the same locality. Thus, considering the fact that difference in FMV as per actual sale consideration received by the assessee and DVO is much lesser in comparison to the difference in value as per SVA and DVO, in our view, deeming provisions of section 50C cannot be pressed into action. - AT
View Source
