Noida Property Valuation Must Use Uttar Pradesh PWD Rates for Fair Market Value, Says Directive to Assessing Officer.

Noida Property Valuation Must Use Uttar Pradesh PWD Rates for Fair Market Value, Says Directive to Assessing Officer. https://www.taxtmi.com/highlights?id=66110 Determination of cost of construction - Valuation adopted in respect of the construction of a property at Noida UP. - the state PWD rates should be adopted for computing the fair market value of the property situated in different states. Therefore, respectfully following binding precedents, we hereby direct AO to adopt PWD rates as prevalent at that point in time for ascertaining the correct and true figure of investment made by the assessee. - AT en-us Tue, 18 Oct 2022 08:51:33 +0530 Tue, 18 Oct 2022 08:51:33 +0530 TaxTMI RSS Generator Noida Property Valuation Must Use Uttar Pradesh PWD Rates for Fair Market Value, Says Directive to Assessing Officer. https://www.taxtmi.com/highlights?id=66110 Determination of cost of construction - Valuation adopted in respect of the construction of a property at Noida UP. - the state PWD rates should be adopted for computing the fair market value of the property situated in different states. Therefore, respectfully following binding precedents, we hereby direct AO to adopt PWD rates as prevalent at that point in time for ascertaining the correct and true figure of investment made by the assessee. - AT Highlights Income Tax Tue, 18 Oct 2022 08:51:33 +0530 https://www.taxtmi.com/highlights?id=66110