https://www.taxtmi.com/caselaws?id=282705 The Tribunal allowed the appeals, reversing the CIT(A)'s orders. It directed the adoption of Fair Market Value (FMV) as on 01.04.1981 as declared by the assessee for computing capital gains. The AO was instructed to allow the assessee to provide information for the deduction under Section 54F. The Tribunal emphasized the legal precedent restricting referral to the Valuation Officer if the declared value is higher than FMV. en-us Tue, 28 Aug 2018 00:00:00 +0530 Tue, 20 Aug 2019 20:35:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282705 The Tribunal allowed the appeals, reversing the CIT(A)'s orders. It directed the adoption of Fair Market Value (FMV) as on 01.04.1981 as declared by the assessee for computing capital gains. The AO was instructed to allow the assessee to provide information for the deduction under Section 54F. The Tribunal emphasized the legal precedent restricting referral to the Valuation Officer if the declared value is higher than FMV. Case-Laws Income Tax Tue, 28 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282705