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2020 (11) TMI 92 - AT - Income TaxCapital gain computation - Reference to DVO - prescribed percentage of value of asset referred to in Section 55A(b)(i) - Conditions of reference to Valuation Officer as per Rule 111AA - HELD THAT:- From a straight reading of the provisions of the Act u/s 55A(b)(i), Rule 111AA, orders of the ITAT, judgments of the Hon’ble High Courts and keeping in view the fact that the estimation made by the DVO differs only 8.92% with that of the fair market value, which is less than 15% prescribed by the provisions of the Act and the less than 10% as held by the various judicial forums, we hereby direct that the addition made by the AO be obliterated. Appeal of the assessee is allowed.
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