https://www.taxtmi.com/caselaws?id=430774 For computing long-term capital gains on sale of property, the Tribunal accepted the Departmental Valuation Officer's estimate where it was supported by more appropriate comparable instances and a scientific basis of valuation. The assessee's registered valuer had relied on comparables that were found not materially similar to the lands in question, so the lower appellate authority's substitution of that report was upheld. The Tribunal found no infirmity in that appreciation of the valuation material and declined to interfere with the capital gains computation. en-us Mon, 07 Nov 2022 00:00:00 +0530 Mon, 28 Nov 2022 10:49:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430774 For computing long-term capital gains on sale of property, the Tribunal accepted the Departmental Valuation Officer's estimate where it was supported by more appropriate comparable instances and a scientific basis of valuation. The assessee's registered valuer had relied on comparables that were found not materially similar to the lands in question, so the lower appellate authority's substitution of that report was upheld. The Tribunal found no infirmity in that appreciation of the valuation material and declined to interfere with the capital gains computation. Case-Laws Income Tax Mon, 07 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430774