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2002 (8) TMI 66 - MADRAS HIGH COURTComputation Of Capital Gains - "1. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right and had valid materials to accept the claim regarding the fair market value of the property as on January 1, 1964 at Rs. 1,80,000 in the place of Rs. 30,000, adopted by the Income-tax Officer? - 2. Whether the Tribunal's view that the certificate by the Sub-Registrar cannot be ignored and should be accepted, is reasonable, supported by valid materials and sustainable in law?" - the calculation being based on the certificate from the Sub Registrar and fair assessment on the basis of municipal tax and there being no other conflicting materials or data, we do not find any reason to interfere with the order of the Tribunal. Hence, the questions raised for consideration are answered in favour of the assessee.
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