https://www.taxtmi.com/caselaws?id=221846 The ITAT Cochin upheld the decision of the Ld. CIT(A) to adopt an average value of Rs. 49,000/- per cent as of 01-04-1981 for computing capital gain on the sale of land, rejecting the Assessing Officer's valuation of Rs. 15,000/- per cent. The Tribunal found that the location of the land on the main road warranted a higher value, and the averaging of valuations was deemed appropriate to address discrepancies. The Revenue's appeal was dismissed, affirming the valuation determined by the Ld. CIT(A). en-us Fri, 15 Feb 2013 00:00:00 +0530 Tue, 02 Apr 2013 10:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221846 The ITAT Cochin upheld the decision of the Ld. CIT(A) to adopt an average value of Rs. 49,000/- per cent as of 01-04-1981 for computing capital gain on the sale of land, rejecting the Assessing Officer's valuation of Rs. 15,000/- per cent. The Tribunal found that the location of the land on the main road warranted a higher value, and the averaging of valuations was deemed appropriate to address discrepancies. The Revenue's appeal was dismissed, affirming the valuation determined by the Ld. CIT(A). Case-Laws Income Tax Fri, 15 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221846