2020 (5) TMI 315

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....nt Member For the Appellant : Shri S. Sridhar, Advocate For the Respondent : Shri Abani Kantha Nayak, CIT ORDER PER BENCH: All the appeals of the assessee and the Revenue are directed against the orders passed by the Commissioner of Income Tax (Appeals)- 3, Coimbatore dated 17.09.2018 & 26.09.2018 and pertains to the assessment years 2009-10 to 2013-14. 2. As the issues in all th....

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.... and in CMA (MD) No.125 of 2011,dated 14.12.2011, the ld. Counsel submitted that valuation for registration of the document against the order of the Inspector General of Registration was challenged before the High Court. The High Court fixed the value for registration at Rs. 17,64,69,491/-. The document was in fact executed on May, 2008, which falls in the Assessment year 2009-10 therefore, the va....

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....artmental Representative submitted that the patta is not a document of title. In the registered sale deed, the absolute right was transferred to the assessee therefore, the assessee cannot now take advantage of the pendency of the patta proceedings before the Tahsildar. Hence, the valuation made by the Wealth Tax Officer is correct. However, the judgments of the High Court in the Writ Petition and....

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....ver, for the purpose of valuation as on the valuation date, the Wealth Tax Officer has to follow the procedure under the Wealth Tax Act after considering the locality of the land in question is situated, area of the land, potential for future development, infrastructure facilities available around the land etc. and other depressing factor such as the pendency of patta proceedings. This Tribunal is....