https://www.taxtmi.com/caselaws?id=238187 The High Court upheld the Tribunal's decision in a tax appeal case concerning the computation of fair market value of land as of 1.4.1981. The Court affirmed that the Assessing Officer erred in rejecting the fair market value declared by the assessee based on a registered valuer's report. The Court emphasized the importance of considering all relevant sale instances and stated that the fair market value should not be disturbed without a technical expert's report. The Court dismissed the appeal, highlighting that the Tribunal's factual findings did not warrant legal interference and clarified that seeking the opinion of the DVO was not mandatory for the CIT(Appeals) to dispute the valuation. en-us Wed, 01 May 2013 00:00:00 +0530 Fri, 18 Oct 2013 12:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238187 The High Court upheld the Tribunal's decision in a tax appeal case concerning the computation of fair market value of land as of 1.4.1981. The Court affirmed that the Assessing Officer erred in rejecting the fair market value declared by the assessee based on a registered valuer's report. The Court emphasized the importance of considering all relevant sale instances and stated that the fair market value should not be disturbed without a technical expert's report. The Court dismissed the appeal, highlighting that the Tribunal's factual findings did not warrant legal interference and clarified that seeking the opinion of the DVO was not mandatory for the CIT(Appeals) to dispute the valuation. Case-Laws Income Tax Wed, 01 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238187