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Valuation of land on 1/4/81

This query is : Resolved 
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Guest

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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.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
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).
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