TaxTMI 
TaxTMI 
2016 (4) TMI 480
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....HARSHA DEVANI) 1. By this appeal under section 260A of the Income Tax Act, 1961 (hereinafter referred to as the "Act"), the appellant revenue has called in question the order dated 12.6.2015 made by the Income Tax Appellate Tribunal, "C" Bench Ahmedabad in ITA No.2309/Ahd/2011 by proposing the following question, stated to be a substantial question of law :- "Whether the Appellate Tribunal has ....
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....ng survey No.14 and 15 as on 31.3.2008. The Valuation Cell submitted a valuation report whereby it determined the fair market value of Plot No.14 at Rs. 10,49,04,000/- instead of Rs. 8,04,20,506/- as declared by the assessee. Insofar as valuation of the plot bearing survey No.15 is concerned, there was no change in the valuation. The Assessing Officer computed the total income of the assessee by c....
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....ion made by the Assessing Officer. Revenue carried the matter in appeal before the Tribunal but did not succeed. 3. Mr. M. R. Bhatt, senior advocate, learned counsel for the appellant assailed the impugned order by reiterating the grounds stated by the Assessing Officer in the assessment order and submitted that the appeal requires consideration on the question as proposed or as may be formulated....
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.... the value so adopted or assessed or assessable shall, for the purposes of section 48, be deemed to be the full value of the consideration received or accruing as a result of such transfer. Thus, what the section provides is that if any land or building or both are transferred at a value less than the value adopted or assessed or assessable by the stamp valuation authority, the value adopted or as....