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2018 (6) TMI 955 - AT - Income TaxCapital gain computation - addition on difference between the actual sale consideration and the fair market value estimated by the Departmental Valuation Officer - Held that:- Differnce being 11.04 per cent., which is marginal and well within the tolerance limit/band of 15 per cent. Referring to the case of Bimla Singh v. CIT [2008 (10) TMI 62 - PATNA HIGH COURT] wherein it was held that "that in valuation of the house property bona fide difference is bound to occur. In the absence of any statutory provision, no hard and fast rule can be laid down in regard to the percentage of difference which can be ignored. The difference between the assessee and the valuer was less than 15 per cent. Not only this, the construction of the house was spread over a period of seven years. In the facts of the present case the difference between the plea of the assessee on the issue on investment on house property and the valuer's report was so meagre that one could assume it to be bonafide difference fit to be ignored." - Decided in favour of assessee.
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