https://www.taxtmi.com/caselaws?id=371870 For capital gains computation, the Tribunal held that the fair market value as on 01.04.1981 should follow the assessee's registered valuer's estimate where the declared value was not shown to be below market value, and the Assessing Officer could not replace it with a lower technical valuation on those facts. The claim for cost of improvement failed because the assessee produced no satisfactory evidence of the alleged renovation expenditure, so the disallowance was sustained. Deduction for investment in a house boat was also denied because no registered sale deed was produced and the house boat was not shown to be a qualifying residential house. en-us Tue, 11 Dec 2018 00:00:00 +0530 Thu, 13 Dec 2018 07:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371870 For capital gains computation, the Tribunal held that the fair market value as on 01.04.1981 should follow the assessee's registered valuer's estimate where the declared value was not shown to be below market value, and the Assessing Officer could not replace it with a lower technical valuation on those facts. The claim for cost of improvement failed because the assessee produced no satisfactory evidence of the alleged renovation expenditure, so the disallowance was sustained. Deduction for investment in a house boat was also denied because no registered sale deed was produced and the house boat was not shown to be a qualifying residential house. Case-Laws Income Tax Tue, 11 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371870