Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (4) TMI 1175 - AT - Income TaxLong term capital gain computation - reference to the DVO for ascertaining value of property as on 1-4-1984 - Held that:- The assessee has got a valuation report from the Government registered valuer as on 1-4-1981, which was more than the fair market value, accordingly the CIT(A) was not justified in giving cognizance to the DVO’s report. In view of the above discussion, we direct the AO to compute capital gain as per the valuation report of the registered valuer as on 1-4-1981, which is apparently more than the fair market value in terms of the decision of Hon’ble jurisdictional High Court in the case of Puja Prints (2014 (1) TMI 764 - BOMBAY HIGH COURT).
|