TMI Blog2013 (7) TMI 623X X X X Extracts X X X X X X X X Extracts X X X X ..... led copies of revenue records, which revealed that the property is not part of Harijan basti as reported by ITI in his earlier report - If for the sake of presumption it is considered that the land is situated near to Harijan Basti, it cannot be said that the land will not have the value as fixed in the circle rate in as much as the Central Government and the State Government have announced severa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Income Tax Appellate Tribunal in I.T.A. No.350/Del/2012 for the assessment year 2008-09. The appeal has been preferred on the question of law as follows:- "(a) Whether on the facts and circumstances of the case, the Hon'ble ITAT has rightly confirmed the order of the CIT (A) and thereby directing to take the cost of acquisition of the capital assets on the basis of value taken by the as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ipal limits. The assessee also filed copies of revenue records, which revealed that the property is not part of Harijan basti as reported by ITI in his earlier report. It was further found that if for the sake of presumption it is considered that the land is situated near to Harijan Basti, it cannot be said that the land will not have the value as fixed in the circle rate in as much as the Central ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... riyan and not Harijan Basti. The Tribunal, thereafter, proceeded to record findings as follows:- "6. We have heard the rival contentions in light of the material produced and precedent relied upon. We find that in this case the assessee has produced sufficient documentary evidence to prove that the cost of acquisition as on 1.4.1981 should be Rs.150/- per sqyd. Assessee has submitted in this r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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