https://www.taxtmi.com/caselaws?id=470158 Registered valuer's reports supporting the fair market value of land and the cost of construction and development constitute valid evidence for computing indexed cost. An Assessing Officer should not substitute a land rate or disallow improvement and development costs solely for absent bills by relying on personal estimation where valuation is disputed. Reliable contrary material, an independent valuation enquiry, or a reference to the Departmental Valuation Officer under the applicable valuation mechanism is required before displacing the registered valuer's determination. The stated valuation should consequently be adopted for indexation where no such contrary expert evidence exists. en-us Wed, 23 Oct 2024 00:00:00 +0530 Fri, 17 Jul 2026 21:38:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470158 Registered valuer's reports supporting the fair market value of land and the cost of construction and development constitute valid evidence for computing indexed cost. An Assessing Officer should not substitute a land rate or disallow improvement and development costs solely for absent bills by relying on personal estimation where valuation is disputed. Reliable contrary material, an independent valuation enquiry, or a reference to the Departmental Valuation Officer under the applicable valuation mechanism is required before displacing the registered valuer's determination. The stated valuation should consequently be adopted for indexation where no such contrary expert evidence exists. Case-Laws Income Tax Wed, 23 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470158