1981 (7) TMI 87

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..... he ITO adopted the said amount as the market value of the property sold and computed the capital gains. In appeal, the AAC upheld the order of the ITO. 2. The ld. counsel for the assessee submitted that in view of the decision of the Karnataka High Court in Sanjeev vs. Kudva (1981)20 CTR (Kar) 1 : (1981) 127 ITR 354 (Kar), the AAC was not justified in adopting the market value, ignoring the act .....

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