https://www.taxtmi.com/caselaws?id=305571 The appeal contested the rejection of the Government Approved Valuer report for computing fair market value, with the Tribunal directing the AO to use an average rate of 100 per sq. meter for both lands, partly allowing the appeal. Discrepancies in fair market value determination for land sales led to the denial of deduction under section 54F, resolved by the Tribunal adjusting the valuation rate. The AO's denial of the deduction under section 54F was challenged, with the Tribunal directing calculation based on an average valuation rate. The Tribunal held the AO's reference under section 55A invalid, emphasizing consideration of valuation reports by the assessee in fair market value assessment disputes. en-us Thu, 18 Jul 2019 00:00:00 +0530 Tue, 13 Dec 2022 08:26:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305571 The appeal contested the rejection of the Government Approved Valuer report for computing fair market value, with the Tribunal directing the AO to use an average rate of 100 per sq. meter for both lands, partly allowing the appeal. Discrepancies in fair market value determination for land sales led to the denial of deduction under section 54F, resolved by the Tribunal adjusting the valuation rate. The AO's denial of the deduction under section 54F was challenged, with the Tribunal directing calculation based on an average valuation rate. The Tribunal held the AO's reference under section 55A invalid, emphasizing consideration of valuation reports by the assessee in fair market value assessment disputes. Case-Laws Income Tax Thu, 18 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305571