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2022 (11) TMI 14 - AT - Income TaxLTCG - addition made u/s 50C - difference between fair market value as determined by the DVO and sale consideration as reflected in the sale deed - HELD THAT:- As following the ratio in the case of Bimla Singh [2008 (10) TMI 62 - PATNA HIGH COURT] which has been followed by this Tribunal in the case of M/s. Radhika Sales Corporation [2018 (11) TMI 1788 - ITAT PUNE] hold that the addition made by the Assessing Officer being the share of the assessee on account of long term capital gains being the difference between fair market value as determined by the DVO and sale consideration as reflected in the sale deed is less than 7%. Therefore, the addition as confirmed by the CIT(A) on account of long term capital gains in the hands of the assessee is not justified. Thus, the order of the CIT(A) fails and it is set-aside. Grounds of appeal no.1 to 5 are allowed.
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