https://www.taxtmi.com/caselaws?id=65563 The tribunal held that the valuation by the Departmental Valuation Officer (DVO) of Rs. 11,42,100 should be the maximum value considered for computing capital gains under section 50C of the IT Act, rather than the higher stamp duty valuation of Rs. 15,50,000. The tribunal emphasized that the DVO's valuation should be based on registration documents and market rates, not solely on circle rates. The case was remitted to the AO for a fresh computation of taxable capital gains using the DVO's revised valuation, ensuring fair valuation practices and preventing undue disadvantage to the assessee. en-us Fri, 13 Jul 2007 00:00:00 +0530 Wed, 07 Feb 2024 11:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65563 The tribunal held that the valuation by the Departmental Valuation Officer (DVO) of Rs. 11,42,100 should be the maximum value considered for computing capital gains under section 50C of the IT Act, rather than the higher stamp duty valuation of Rs. 15,50,000. The tribunal emphasized that the DVO's valuation should be based on registration documents and market rates, not solely on circle rates. The case was remitted to the AO for a fresh computation of taxable capital gains using the DVO's revised valuation, ensuring fair valuation practices and preventing undue disadvantage to the assessee. Case-Laws Income Tax Fri, 13 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65563