Estimating Property Value: Challenges in Determining Fair Market Value u/ss 55 and 55A of the Income Tax Act.

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....Valuation - the fair market value of the property is dependent on several factors which influence valuation and there is no scientific or straight jacket method to value the property at a particular point of time and somewhere estimation element will definitely creep in while determining the fair market value of the property as on date keeping in view the mandate of Section 55 and 55A - AT....