Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (2) TMI 520 - ITAT INDOREDisallowance of exemption claimed u/s 54F - CIT(A) has adopted the market value as per the DVO's report - Held that:- CIT(A) has adopted the market value as per the DVO's report. The revenue has not brought any other material except the valuation made by the stamp valuation authority. It is also not stated as to how the DVO's report is not correct. No infirmity in the order of the Ld. CIT(A) to adopt the market value as per the DVO's report. Further, Ld. CIT(A) has allowed deduction u/s 54F of the Act. As the assessee in accordance with the provisions of section 54F of the Act amount was deposited in the capital gain account and so utilized there from within the time frame as prescribed under the law, the grounds raised by the revenue are devoid of merit. Hence, we reject the same. - Decided against revenue
|