The Assessee sold a property for a consideration lower than stamp duty value of the property. The Assessing Officer made a reference to the District Valuation Officer (‘DVO’) wherein the fair market value of the property was estimated at lower value than stamp duty value but higher than the consideration. The assessee objected to the valuation since highest sale instance was considered ignoring the other three sale instances noted by the DVO. Also, value of car parking was separately added wherein no separate consideration was received by the assessee for car parking. The Tribunal remanded the matter back to the Assessing Officer to take into consideration the average of three instances in the valuation report and also add the fair market value of the covered car parking instances while estimating the fair market value of the property.(AY.2016-17)