Property sold for Rs 50 lakhs. Stamp valuation was Rs 90.20 lakhs.DVO estimated at Rs 81.68 lakhs Tribunal held that location of property, potential development in near future, availability and accessibility to infrastructure facility such as road, airport, educational institutions, etc. were not properly considered either by Approved Valuer or by Departmental Valuation Officer, while valuing property sold by assessee. Accordingly the Tribunal estimated the value at Rs. 69 lakhs. ( AY.2011-12)
Kalavathy Sundaram (Smt.) v. ITO (2018) 172 ITD 597 (Chennai) (Trib.)
S. 50C : Capital gains-Full value of consideration-Stamp valuation –Property sold for Rs 50 lakhs–Stamp valuation was Rs 90.20 lakhs-DVO estimated at Rs 81.68 lakhs-location of property, potential development in near future, availability and accessibility to infrastructure facility such as road, airport, educational institutions, etc. were not properly considered either by Approved Valuer or by Departmental Valuation Officer, while valuing property sold by assessee- Tribunal estimated the value at Rs. 69 lakhs. [S. 45]