https://www.taxtmi.com/caselaws?id=295715 The Tribunal ruled in favor of the assessee in an appeal against the Commissioner of Income Tax (Appeals) order, concerning the assessment year 2009-10. The Tribunal held that the fair market value (FMV) of the property should be based on the value declared by the assessee rather than the stamp valuation authority assessment, as the difference was less than 10%. Citing judicial precedents, including CN Gautam vs. Union of India, the Tribunal directed the Assessing Officer to accept the declared value, resulting in a favorable outcome for the assessee against the Revenue. en-us Mon, 17 Oct 2016 00:00:00 +0530 Thu, 17 Jun 2021 11:06:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295715 The Tribunal ruled in favor of the assessee in an appeal against the Commissioner of Income Tax (Appeals) order, concerning the assessment year 2009-10. The Tribunal held that the fair market value (FMV) of the property should be based on the value declared by the assessee rather than the stamp valuation authority assessment, as the difference was less than 10%. Citing judicial precedents, including CN Gautam vs. Union of India, the Tribunal directed the Assessing Officer to accept the declared value, resulting in a favorable outcome for the assessee against the Revenue. Case-Laws Income Tax Mon, 17 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295715