Urban Land Valuation Method Challenged: Rule 14 & Schedule III Part 'D' Deemed Applicable; AO's Approach Unsustainable.

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....Determining the value of urban land - the land in question is held as stock in trade a business asset and the method of valuation as laid down in rule 14 and Schedule III part ‘D’ is also applicable and on both counts the valuation adopted by AO cannot be upheld - AT....