DVO Error in Property Valuation for LTCG: Assessee's Land Misvalued; Rent Capitalization Method Ignored.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....LTCG - Deemed Sale Value - DVO was not justified in valuing the building, because the assessee was owner of the land only and the building was not constructed or owned by assessee and DVO also failed to appreciate that the property was on lease till 2040 and was only entitled to receive a sum of ₹ 10,000 per month as rent being co-owner - valuation of the property had to be made as per Rent Capitalization method....