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2015 (11) TMI 1445 - AT - Income TaxComputation of long term capital gains - adoption of the fair market value as on 1st April, 1981 - rectification of mistake - Held that:- The common issue was the computation of long term capital gains and for that purpose, adoption of the fair market value as on 1st April, 1981 was necessary. It is noticed that after considering rival contentions, the Tribunal directed the A.O. to refer the valuation to the DVO and to consider the report of the DVO on the cost of acquisition as on 01.04.1981 for computation of capital gains. We find that the very same issue has been raised by the assessee [...] though in the Revenue’s appeal 1428/Hyd/2012 and this Tribunal after considering the decisions cited by the assessee before us now i.e., the decision of jurisdictional High Court in the case of CIT vs. Ashven Datla in ITTA [2012 (11) TMI 1098 - ANDHRA PRADESH HIGH COURT] has held that there was no mistake apparent from record which needs rectification. As can be seen the ITAT has not directed A.O. to adopt value of DVO as apprehended. Various options were given to A.O. to determine the fair market value including the DVO value. Therefore also, we are of the opinion that there is no mistake which require rectification.
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