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Fair market value as on 01.04.1981

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 March 2013 Dear experts, The AO is not accepting the valuation report of the property as FMV as on
01.04.1981, by the registered valuer, and wants to adopt his imaginative value while completing the asst. U/s 143(3), what is the remedy?
pl clarify with the latest decisions in favor of assessee
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sudarshan

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sudarshan (Expert)
08 March 2013 FMV is not guideline value or circle rate . It is a value the property would fetch if sold in open market.
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