Held that the addition cannot be made in respect of difference between market value and consideration declared. Burden is on the revenue to prove that the assessee has received more consideration than the actual consideration received . Addition was deleted .( AY.1998-99, 1999-2000 )
Arjun Malhotra v. CIT (2018) 403 ITR 354/166 DTR 235/ 255 Taxman 399/ 304 CTR 454 (Delhi) (HC)
S. 48 : Capital gains – Computation -Difference between market value and consideration declared, burden is on the revenue to prove -Addition was deleted [S. 45,52(1) ]