Tribunal upholds valuation decision for computing capital gains, rejects brokerage claim due to lack of evidence. Appeal dismissed.

The Tribunal upheld the decision to adopt the Departmental Valuation Officer's valuation of Rs.4,14,870 for computing capital gains, dismissing the appellant's objections. The claim for brokerage expenses was rejected due to lack of evidence. The appeal was dismissed, with the Tribunal noting that the appellant's legal heir filed the appeal for an unjustified reason.

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Issues Involved:
1. Chargeability of capital gains on land and superstructure parts.
2. Application of section 50C(3) regarding the value assessed by the Stamp Valuation Authority.
3. Computation of capital gain based on the value assessed by the Stamp Valuation Authority.
4. Valuation of land part exceeding the value assessed by the Stamp Valuation Authority.
5. Disallowance of brokerage expenses claimed by the appellant.

Issue-wise Detailed Analysis:

1. Chargeability of Capital Gains on Land and Superstructure Parts:
The appellant argued that the authorities erred in not accepting the value of the land part as assessed by the Stamp Valuation Authority, which separately assessed the value of land and superstructure parts. The authorities below used a combined valuation for capital gains computation, leading to a higher assessment than what the appellant declared.

2. Application of Section 50C(3):
The appellant contended that according to section 50C(3), the value assessed by the Stamp Valuation Authority should be considered the full value of the consideration received on transfer. The authorities below deviated from this value, leading to an inflated capital gains computation. The appellant requested a reference to the Departmental Valuation Officer (DVO) as per section 50C(2), which was initially ignored but later directed by the CIT(A), resulting in a DVO valuation of Rs.4,14,870/-.

3. Computation of Capital Gain Based on the Value Assessed by the Stamp Valuation Authority:
The appellant claimed that the value of land assessed by the Stamp Valuation Authority at Rs.141,660/- using a circle rate of Rs.6000 per sq. meter should be used for computing capital gains. The authorities below, however, did not adhere to this valuation, leading to a higher assessed value.

4. Valuation of Land Part Exceeding the Value Assessed by the Stamp Valuation Authority:
The authorities below assessed the value of the land part higher than the value assessed by the Stamp Valuation Authority, which the appellant argued was incorrect. The CIT(A) eventually adopted the DVO's valuation of Rs.4,14,870/- instead of the Stamp Valuation Authority's Rs.5,23,000/-, leading to a revised addition of Rs.29,122/- to the appellant's income.

5. Disallowance of Brokerage Expenses:
The appellant claimed brokerage expenses of Rs.7,700/- paid through an account payee cheque, which was disbelieved by the CIT(A) due to a lack of supporting evidence. The appellant failed to produce any documents to substantiate this claim, leading to the dismissal of this ground.

Conclusion:
The Tribunal upheld the CIT(A)'s decision to adopt the DVO's valuation of Rs.4,14,870/- for computing capital gains, as the appellant did not object to this valuation during the proceedings. The claim for brokerage expenses was also dismissed due to a lack of evidence. The appeal was dismissed, with the Tribunal noting that the appellant's legal heir filed the appeal due to an inability to pay the small tax amount, which was not a justified reason for filing a frivolous appeal.

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