TMI BlogCapital gain - Valuation - FMV determination - Conversion of agriculture land - reference to DVO -...Capital gain - Valuation - FMV determination - Conversion of agriculture land - reference to DVO - CIT(A) has correctly observed that the land sold in current year is non-agricultural land but the land was agricultural land as on 01-04-1981 and therefore cost of land as on 01-04-1981 cannot be determined based on sale rate of non-agricultural land for the current year and thereafter applying reverse formula thereon. - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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