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2017 (9) TMI 1686 - HC - Income TaxAddition on account of capital gains computed u/s 48 by adopting the full value of consideration as adopted by the Stamp valuation Authority in pursuance of provisions of section 50C(1) - Held that:- It is well settled that the parties, if they admitted even after by a MOU and in view thereof, possession was already handed over on 4th October, 2006, no person is ready to give revised rates. Though the valuation of Registered Valuation Officer is on some authentic method but there can be some shortcomings also. The AO has not referred the matter to DVO whereas he should have referred the matter to the DVO for taking valuation from him so that both the valuation can be compared. It is a matter of small addition. Therefore, we are not inclined to send the matter to the file of the AO for referring the matter to the DVO for the purpose of ascertaining actual market value. Accordingly, we direct the AO to adopt valuation of this property at ₹ 20 lacs for the purpose of capital gains. We order accordingly. - Appeal decided in favour of the assessee and against the Department.
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