Revision u/s 263 - AO considered the FMV at ₹ 300 per ...

Income Tax

July 18, 2016

Revision u/s 263 - AO considered the FMV at ₹ 300 per sq.ft. as on 1.4.1981 as submitted by the assessee without bringing any comparable cases or referring the matter to the DVO for valuation. This itself is an error committed by the AO that aspect involves the rejection of tax, which is prejudicial to the interests of the revenue. - AT

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Revision u/s 263 - AO considered the FMV at ₹ 300 per ...

Income Tax

July 18, 2016

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