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2016 (10) TMI 1333 - AT - Income TaxCapital gain computation - calculation of FMV - adopting fair market value (FMV) value of the property instead as per sale deed of the property sold.- HELD THAT:- From the records available especially the orders passed by the revenue authorities alongwith case laws referred by the ld. Counsel of the assessee. We note that the Assessee has established the difference between the value adopted by the Stamp Valuation Authority and declared by the assessee is less than 10% and therefore, the issue is squarely covered by the decision of the Hon’ble Supreme Court of India in the case of CB Gutam vs. UOI & Ors. [1992 (11) TMI 1 - SUPREME COURT] Also further find that the aforesaid decision of the Hon’ble Supreme Court of India has been followed by the various Benches of the Tribunal including the Jaipur Bench in the case of Smt. Sita Bai Khetan vs. ITO [2016 (11) TMI 955 - ITAT JAIPUR] Since in the instant case such difference is less than 10 per cent and considering the fact that valuation is always a matter of estimation where some degree of difference is bound to occur, we are of the considered opinion that the AO in the instant case is not justified in substituting the sale consideration as against the actual sale consideration disclosed by the assessee. - Decided in favour of assessee.
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