capital gains

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HARANATH (Querist)
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01 February 2008 one of my client got property as inheritance in 1952. he sold that property in 2006-07. as he can opt fmv as on 1-4- 1981, he tried for supporting document to get value as on 1-4-1981. but he did'nt get that. instead of that he obtained register value in the year 1987. can he take that as the base and can he go back and calculate fmv as on 1-4-1981?
plz guide me . i am in great confusion.

give reply to my mail "hariwithu@sify.com"
thanku

HARANATH

HARANATH (Querist)
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01 February 2008 plz reply as early as possible

Late CA Sampat Jain

Late CA Sampat Jain (Expert)
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01 February 2008 ALL YOU HAVE TO DO IS TO FURNISH A BASIS OF YOUR VALUE AS ON 1-4-81 , IF AO IS NOT SATISFIED HE WILL HAVE TO GIVE HIS BASIS......

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