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2010 (12) TMI 435 - ITAT, LUCKNOWvaluation of the capital asset - Refer to stamp valuation authority - Circle rate - The value disclosed by the assessee was less than the value as mentioned in the circle rate by the stamp valuation authority - The assessee however, claimed before the Assessing Officer that the value adopted by the stamp valuation authority exceeds the fair market value because the property in question was disputed and one temple was constructed in the said property, so there was no buyer - Held that:- the matter was referred by the Assessing Officer to the D.V.O. on the direction by the learned CIT (A),do not find merit in this contention of the learned D. R. that the CIT (A) could not have referred the matter to D.V.O., therefore, the direction for adopting the value determined by the D.V.O. was not justified because the facts are altogether different as the reference was made by the Assessing Officer and not by the learned CIT (A) - Therefore, do not find any infirmity in the order of the learned CIT (A) particularly in view of the provisions contained in section 250(4)of the Act - Hence, the appeal is dismissed.
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