Dismissing the appeal of the assessee the Tribunal held that; the DVO, i scaled down the fair market value of the plot at Rs. 46.96 lakhs as against stamp value of Rs. 56.19 lakhs after taking into consideration the cumulative effect of all the relevant factors and entertaining the objections taken by assessee. Accordingly the AO was justified in adopting the value determined by the DVO . (AY.2013 -14)
Anil Murlidhar Deshmukh v. ITO (2019) 174 ITD 377 (SMC) (Pune)(Trib.)
S. 50C : Capital gains – Full value of consideration – Stamp valuation-Valuation of property submitted by the Assessee was rejected and referred the matter to DV0-Value adopted by the DVO is binding on the Assessing Officer. [S. 45]