1988 (4) TMI 112

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....bsp;  Value Shown  Value Assessed  Value maintained Property                                          by the                                                   Commissioner                  &....

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....---------------------------------------------- It will be seen from the chart that except in the case of land at Nai Sarak, the differences between the values shown by the assessee and taken by the Commissioner (Appeals) in respect of other assets is very marginal particularly in the case of the land in the name of the wife, there was no difference at all because the value shown was accepted by the Commissioner (Appeals). In view of very minor variations in the values shown and assessed, we do not think that it is proper on our part to interfere with the values fixed by the Commissioner (Appeals). In so far as the value of the land at Nai Sarak is concerned, we have already mentioned the fact that this land was gifted and in the gift-tax....

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....egards the third ground objecting to the inclusion of Rs. 1,01,000 being the sales price of the part of the land in the assessment of the assessee for the assessment years 1976-77 and 1977- 78, we would like to reproduce what the Commissioner (Appeals) had said in this regard only to show how right he was and how this ground was misconceived and how we are unable to interfere: "3 The next common grievance relates to inclusion of Rs. 1,01,000 in the total wealth of the appellant in the assessment year 1976-77 and Rs. 1,10,500 in the assessment year 1977-78 being the cash with the appellant's wife representing sale of portions of land being the property mentioned at (d) of the preceding para. The learned counsel contended that the inclusio....