Court Remands Case on 1981 Land FMV for Capital Gains Tax; AO Lacks Evidence on Valuation Method.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Capital gain on sale of land - FMV as on 1/4/1981 - AO has not given any evidence that how the FMV has been determined by him - AO may decide the whole issue either by referring the matter to the DVO for determining the FMV or accepting the value shown by the assessee - matter remanded....