https://www.taxtmi.com/caselaws?id=328844 The ITAT upheld the CIT(A)'s decision in a case involving disputes over the correct value for cost of indexation and fair market value of land sold by the assessee. The ITAT supported the CIT(A)'s decision to delete the addition made by the Assessing Officer and to estimate the fair market value at Rs. 25 per sq. mtr. The ITAT dismissed challenges to the assessment order based on violation of natural justice, emphasizing the significance of fair market valuation and consideration of locational advantages in determining land value for computing capital gains. en-us Tue, 31 May 2016 00:00:00 +0530 Wed, 15 Jun 2016 15:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328844 The ITAT upheld the CIT(A)'s decision in a case involving disputes over the correct value for cost of indexation and fair market value of land sold by the assessee. The ITAT supported the CIT(A)'s decision to delete the addition made by the Assessing Officer and to estimate the fair market value at Rs. 25 per sq. mtr. The ITAT dismissed challenges to the assessment order based on violation of natural justice, emphasizing the significance of fair market valuation and consideration of locational advantages in determining land value for computing capital gains. Case-Laws Income Tax Tue, 31 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328844