Valuation of land on 1/4/81
This query is : Resolved
Guest
Guest
(Querist)
09 April 2014
Hi experts,
The assessee had valued his plot of land @Rs 44 per unit on 01/04/1981 from a registered valuer and filed return paying capital gains tax. But the AO has passed the assessment order after giving opportunity to be heard, stating that the plots in the same village were valued as low as Rs 11/- to Rs 19/- per unit during that time. The AO has made no reference to the DVO.
Kindly advise if we have any grounds for appeal.
The assessee had valued his plot of land @Rs 44 per unit on 01/04/1981 from a registered valuer and filed return paying capital gains tax. But the AO has passed the assessment order after giving opportunity to be heard, stating that the plots in the same village were valued as low as Rs 11/- to Rs 19/- per unit during that time. The AO has made no reference to the DVO.
Kindly advise if we have any grounds for appeal.
09 April 2014
Yes ,you have a valid ground to appeal.
Citation :- Smt.Krishnabai Tingre Vs I.T.O [2006] 101 ITD 317 (Pune-Tri).
Citation :- Smt.Krishnabai Tingre Vs I.T.O [2006] 101 ITD 317 (Pune-Tri).
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- Value of property in capital gain
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Copyright software
- SFT Cash Deposit in Current Account
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
