DLF Limited v. Addl. CIT (2018) 63 ITR 22 (Delhi) ( Trib)

S. 45: Capital gains- For the purpose of computation of capital gains, AO could not substitute full value of sales consideration with any notional or hypothetical value.[ S.48]

On appeal to Tribunal, it was held that the provisions of u/s. 45 of the Act make reference to the full value of consideration and it is not open to the AO to substitute the value of consideration by any hypothetical or notional value unless there is a case of understatement and non-disclosure of full value of consideration. Thus, Tribunal upheld the order of CIT(A) in deleting the additions made to the total income of the assessee under head Capital Gains. (ITA No. 3846 & 4342/Del/2012)(AY. 2007-08)