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2020 (7) TMI 327 - AT - Income TaxLong-term capital gain - FMV determination - HELD THAT:- Fair market value of the property as on 01.04.1981 was claimed by the assessee on the basis of actual sale instance of the comparable property but the same was not accepted by the AO, who adopted the fair market value of the property as on 01.04.1981 on the basis of the valuation made by the Departmental Valuation Officer (DVO). He has contended that the copy of the DVO’s valuation report, however, was never given by the AO to the assessee and even the objections raised by the assessee in respect of the valuation determined by the DVO before the ld. CIT(Appeals) were not properly considered by him. As contended that even the sale instances relied upon by the assessee to justify the fair market value of the property as on 01.04.1981 taken by him were not properly appreciated either by the Assessing Officer or by the ld. CIT(Appeals) - a similar issue involved in the case of co-owner Shri Samaresh Kumar Mondal, brother of the assessee, has already been sent back by the Tribunal to the Assessing Officer for reconsideration - A perusal of the order of the Tribunal passed in the case of Samaresh Kumar Mondal, however, shows that a similar issue involved in the said case in the identical facts and circumstances was remitted by the Tribunal back to the ld. CIT(Appeals) for fresh adjudication - Appeal of the assessee is treated as allowed for statistical purposes.
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