Dismissing the appeal of the revenue the Court held that ; Approved valuer’s report itself is a piece of evidence and Act does not require that opinion of approved valuer should have been supported with further evidence in shape of circle rate or exemplar sale deeds etc, value as on 1-4-1981 on the basis of approved valuer was held to be valid . (AY. 2009-10)
PCIT v. Vidhi Agarwal ( Smt.) (2018) 252 Taxman 395 (All.)(HC)
S. 55 : Capital gains – Cost of improvement – Cost of acquisition – Approved valuer’s report itself is a piece of evidence and Act does not require that opinion of approved valuer should have been supported with further evidence in shape of circle rate or exemplar sale deeds etc, value as on 1-4-1981 on the basis of approved valuer was held to be valid [ S. 45, 55(2)(b)(ii) ]