https://www.taxtmi.com/caselaws?id=290550 The Appellate Tribunal ITAT Chennai determined the fair market value of a property sold as on 01.04.1981 for assessment year 2006-07 under section 143(3) of the Income Tax Act 1961. After considering arguments and documents, the Tribunal adopted an average value between the Sub-Registrar's value and the assessee's claimed value as the fair market value. As a result, the appeal of the assessee was partly accepted, while the Revenue's appeal was dismissed. en-us Mon, 18 Feb 2013 00:00:00 +0530 Mon, 05 Oct 2020 10:35:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290550 The Appellate Tribunal ITAT Chennai determined the fair market value of a property sold as on 01.04.1981 for assessment year 2006-07 under section 143(3) of the Income Tax Act 1961. After considering arguments and documents, the Tribunal adopted an average value between the Sub-Registrar's value and the assessee's claimed value as the fair market value. As a result, the appeal of the assessee was partly accepted, while the Revenue's appeal was dismissed. Case-Laws Income Tax Mon, 18 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290550