S. 55 : Capital gains-Cost of improvement-Cost of acquisition-Sale of property-Non-Resident-Fair market value as on 1-4-2001-Valuation on the basis of approved Government Valuer-Assessing Officer is directed to adopt fair market value of property on the basis of as determined by Registered valuer. [S. 48, 144C(7)(a), 144C(7)(b)]
Held that fair market value as on 1-4-2001 is to be determined on the basis of valuation on the basis of approved Government Valuer.The Assessing Officer is directed to adopt fair market value of property on the basis of as determined by Registered valuer. (AY. 2021-22)
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