https://www.taxtmi.com/caselaws?id=200753 The Tribunal dismissed both the Revenue's appeal and the assessee's cross-objection, upholding the CIT(A)'s decision to adopt Rs. 900 per sq. yard for land and Rs. 100 per sq. ft. for the built-up area as fair market values for computing capital gains. The Tribunal emphasized that SRO values are not scientifically prepared and cannot serve as fair market values, and the Registered Valuer's report lacked specific comparable cases to support a higher valuation. en-us Fri, 25 Oct 2013 00:00:00 +0530 Tue, 18 Apr 2023 13:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200753 The Tribunal dismissed both the Revenue's appeal and the assessee's cross-objection, upholding the CIT(A)'s decision to adopt Rs. 900 per sq. yard for land and Rs. 100 per sq. ft. for the built-up area as fair market values for computing capital gains. The Tribunal emphasized that SRO values are not scientifically prepared and cannot serve as fair market values, and the Registered Valuer's report lacked specific comparable cases to support a higher valuation. Case-Laws Income Tax Fri, 25 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200753