https://www.taxtmi.com/caselaws?id=303438 Where a proximate and comparable sale instance is available, older and less comparable sales should not be preferred for fixing market value; the 1991 sale deeds were therefore excluded in favour of the nearer 1994 transaction. A higher stamp duty payment did not justify replacing the consideration stated in the sale deed, because the recorded price must stand absent evidence of undervaluation, distress sale, or other proof that it was not the real price. For development deduction, the urban character, municipal location, road frontage, and surrounding amenities supported a 25% deduction rather than one-third, and the market value was accordingly reduced. en-us Thu, 11 Feb 2010 00:00:00 +0530 Fri, 22 Jul 2022 18:22:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303438 Where a proximate and comparable sale instance is available, older and less comparable sales should not be preferred for fixing market value; the 1991 sale deeds were therefore excluded in favour of the nearer 1994 transaction. A higher stamp duty payment did not justify replacing the consideration stated in the sale deed, because the recorded price must stand absent evidence of undervaluation, distress sale, or other proof that it was not the real price. For development deduction, the urban character, municipal location, road frontage, and surrounding amenities supported a 25% deduction rather than one-third, and the market value was accordingly reduced. Case-Laws Indian Laws Thu, 11 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303438