Assessee sold a flat for a consideration of Rs. 3.50 crores. Stamp Valuation Authority valued the transaction of such sale at Rs. 4.17 crores as per the ready reckoner rate as on 07-01-2011. Assessing Officer invoked provisions of section 50C and computed LTCG on the assessee’s share. Tribunal directed the Assessing Officer to make reference to DVO to ascertain the value of the asset as on the date of presentation before the Stamp Valuation Authority. DVO submitted his valuation report wherein he estimated fair market value at Rs. 4.13 crores as on 27-11-2010. Accordingly, the Assessing Officer recomputed the capital gain. The assessee had placed on record a certified copy of the registered agreement presented on 29-11-2010 wherein the ready reckoner rate was worked out at Rs. 3.21 crores. Such a fact was not countered by revenue. The Tribunal held that once the Assessing Officer accepted the contention of the assessee for seeking estimation of value from DVO as on 27-11-2010 and in case estimation of DVO was more than the value of his Stamp Valuation Authority, as per section 50C(3), the Assessing Officer was required to accept full value of consideration as per value determined by Stamp Valuation Authority. Accordingly, the   Assessing Officer was to be directed to adopt Rs. 3.21 crores and recompute capital gain on the assessee’s share. (AY. 2011-12)