1986 (11) TMI 141

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....iginally agricultural land which has been converted to commercial land measuring 1000 sq. yds. For the asst. yr. 1984-85, the said plot of land was taken at Rs. 3,67,835. For the year under review, the assessee deducted 25 per cent and returned a value of Rs. 2,76,877. According to the AAC, the reduction claimed by the assessee was not at all justified in in view of high rates of auction at which ....