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2013 (7) TMI 623 - ALLAHABAD HIGH COURTCost of acquisition - Tribunal upheld the cost of acquisition quoted by assessee - Held that:- Assessee had filed certificate from Nagar Palika and also report from Land Revenue Inspector stating that all Khatta numbers of the said property lie within municipal limits - assessee also filed copies of revenue records, which revealed that the property is not part of Harijan basti as reported by ITI in his earlier report - If for the sake of presumption it is considered that the land is situated near to Harijan Basti, it cannot be said that the land will not have the value as fixed in the circle rate in as much as the Central Government and the State Government have announced several programmes to uplift the Harijans to provide affordable houses to them - The State Government has charged stamp duty of the land from Vijay Cinema upto Kisan Degree College at the rate of Rs.250/- per sq. yard. The adoption of rate at Rs.150/- per sq. yard was thus reasonable. - Therefore, no substantial question of law arises - Decided against Revenue.
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