TMI Blog2017 (7) TMI 1006X X X X Extracts X X X X X X X X Extracts X X X X ..... regarding sale of immovable property for the purpose of consideration of the capital gains at ₹ 61,00,000/-, keeping in view the fact that the stamp value assessment for it had fixed the value of such property at ₹ 92,52,000/, the Assessing Officer has taken into consideration the same. In view of the objections raised by the assessee and keeping in view the provisions contained in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stion of law arises in this appeal would not be acceptable. The procedure has been adopted and stamp value assessment is applied. Further though the learned counsel for the appellant contends that the valuation as made by the District Valuation Officer is without basis, the said aspect cannot be considered in an appeal of the present nature by treating it as a question of law for consideration her ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ore this Court. 2. The learned counsel for the appellant though seeks to contend that the question of law as raised in this appeal arises for consideration, essentially what requires to be noticed by us is with regard to the nature of consideration that is made by the competent authorities keeping in view Section 50C of the Income Tax Act, 1961, which is relevant in the present circumstance. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that was required to be adopted, since in that circumstance, the value fixed by the stamp valuation authority was necessary to be taken into consideration, the value of ₹ 92,62,000/- was taken into consideration and assessment has been completed. The consideration as made therein has been upheld by the Tribunal as well. 4. Therefore, in the circumstance where the provision of law has been ..... X X X X Extracts X X X X X X X X Extracts X X X X
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