https://www.taxtmi.com/caselaws?id=327444 The Tribunal dismissed the Revenue's appeal regarding the valuation of a property for capital gains computation for the assessment year 2009-10. It held that the stamp duty value, lower than the actual sale consideration, should be used for computing capital gains. The Tribunal found the Assessing Officer's referral to the Departmental Valuation Officer unnecessary, affirming the Commissioner of Income Tax (Appeals) decision to delete the addition. The Tribunal upheld that the full value of consideration should align with the actual sale value, ultimately dismissing the Revenue's appeal and maintaining the decision in favor of the assessee. en-us Fri, 06 May 2016 00:00:00 +0530 Mon, 09 May 2016 23:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327444 The Tribunal dismissed the Revenue's appeal regarding the valuation of a property for capital gains computation for the assessment year 2009-10. It held that the stamp duty value, lower than the actual sale consideration, should be used for computing capital gains. The Tribunal found the Assessing Officer's referral to the Departmental Valuation Officer unnecessary, affirming the Commissioner of Income Tax (Appeals) decision to delete the addition. The Tribunal upheld that the full value of consideration should align with the actual sale value, ultimately dismissing the Revenue's appeal and maintaining the decision in favor of the assessee. Case-Laws Income Tax Fri, 06 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327444