TaxTMI 
TaxTMI 
2014 (9) TMI 1189
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....IA, A.M. This is an assessee's appeal directed against the order passed by learned CIT(A)-I, Lucknow dated 28/11/2013 for the assessment year 2010-2011. 2. The grounds raised by the assessee are as under: "1. The Learned Commissioner of Income Tax (Appeals) has erred in law and on facts in passing the order which is illegal, improper and against the principles of natural justice. 2. The L....
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....hat it is observed by the Registered Valuer on page No. 17 that circle rate for land was Rs. 8/- to Rs. 12/- per sq. ft. in city area in 1980-81 and considering this, he adopted the rate of Rs. 12/- per sq. ft. on main highway called Deokali Chauraha. He also submitted that as per the assessment order, there is no dispute regarding cost of construction as on 01/04/81 because the Assessing Officer ....
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....this decision. He also placed reliance on a Tribunal decision rendered in the case of Pyare Mohan Mathur, HUF in I.T.A. No.471/Agra/2009 dated 15/10/2009. He submitted a copy of this Tribunal decision also. He pointed out that in both these cases, it was held by the Tribunal that the Registered Valuer is a technical expert and opinion of the expert cannot be thrown out without bringing any contrar....
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....and as on 01/04/1981. In support of the value of the land adopted by the assessee for computing the capital gain, the assessee has submitted a report of Registered Valuer. The Assessing Officer has not referred the matter to D.V.O. and on his own, he has rejected the report of Registered Valuer and chose to adopt rate of Rs. 6/- per sq. ft. as market value of land as on 01/04/81. Under these facts....