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2012 (2) TMI 7 - HC - Income TaxComposite sale - Capital Gains - Allocation of sale value towards land and the factory building – composite sale of Rs 17. 50 lacs – reference made to Departmental Valuation Officer on direction of Tribunal – DVO bifurcated sales and estimated sale consideration to be 21.42 lacs – A.O. computed capital gain taking sale consideration to be Rs 21.42 lacs and not Rs 17.50 lacs – Held that:- D.V.O. and A.O. was not required and permitted by the said order to examine the total sale consideration as the appellant in the present case had applied under Chapter XXC and the appropriate authority had accepted the sale consideration mentioned by the appellant. The sale consideration and the quantum thereof was never in question and need not be re-examined. Thus, the enhancement made by the A.O. was not justified and as per law – Decided in favor of assessee.
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