Assessee  sold the  property for Rs 378 crores.  According to circle rate (stamp value rate) cost of property was Rs. 390 crores. Assessing Officer issued on assessee a notice stating that District Valuation Officer (DVO) determined fair market value of property at Rs. 418 crores and asked it to explain as to why improvement cost in excess of what had been reported in valuation report of DVO should not be disallowed from cost of acquisition of property for calculation of capital gains under section 45 of the Act. The assessee filed the writ petition challenging the jurisdiction of the AO. Dismissing the petition the Court held that since property was sold by assessee below circle rate contrary to section 50C, Assessing Officer had jurisdiction to examine the transaction in detail. (AY. 2018-19)