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2019 (4) TMI 1664 - AT - Income TaxAddition Short Term Capital Gain made u/s 50C - adoption of the circle rate value of the immovable property disposed by the assessee during the relevant previous year and the consequential short term capital gains arising to the assessee which has been held to be taxable by the AO - HELD THAT:- In the present case the assessee has accepted the valuation of the capital asset transferred by the assessee has attained finality. Under the provisions of Indian Evidence Act, 1872 the said admitted position of the assessee become proved fact. CIT(A) consistently held that wherever the assessee has accepted the valuation of the capital asset transferred by the assessee as determined by the concerned revenue authorities under the provisions of the Indian Stamp Act, 1899 and the said acceptance has become final and hence, the said assessee cannot go back on its admitted position and accepted valuation of the capital asset before the authorities acting under the provisions of the I.T. Act, 1961. CIT(A) has rightly confirmed the addition in dispute - Decided against assessee.
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