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2023 (9) TMI 1037 - ITAT DELHILong term capital gains - FMV determination - CIT(A) confirming the addition as LTCG by adopting miniscule market value as on 01.04.1981 of land sold by the appellant - It was the case of the assessee that the land sold by her could not be compared with the value adopted by the Hon'ble Supreme Court in the case Premawati Vs. Union of India and Ors. [2013 (7) TMI 1217 - SUPREME COURT] and also Rajender Singh (D) by LRs Vs. Delhi College of Engineering [2013 (7) TMI 1217 - SUPREME COURT] and contended that her land was better located and was not an agriculture land. HELD THAT:- The assessee except making the above assertions that the land sold by the assessee was in a better position, not produced any evidence before the Lower Authorities to prove that the Assessee’s land that of the Hon'ble Supreme Court of India had decided the fair market and no specific difference has been pointed out by the assessee. Therefore, in our opinion, in the absence of any material to prove that the land of the assessee and the land for which the Hon'ble Supreme Court has decided the fair market value at Rs. 50,000/- per Bigha are different and in the absence of any supporting evidence in support of the contention of the assessee, we find no error or infirmity in the orders of the Lower Authorities in adopting fair market value on the basis of the decisions of Hon'ble Supreme Court of India. Appeal filed by the assessee is dismissed.
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