land determined by the
District Valuation Officer ('DVO') as on, 01.04.1981.
3.The facts of the case which can be stated quite shortly ... Kolkata. The valuation report for arriving at the valuation as on 01.04.1981
and on the date of transfer was furnished by the assessee. The valuation
rights had been acquired by the ancestors of the Appellant prior to
01.04.1981 the CIT(A) was wrong in not holding that the cost ... acquisition was to be adopted as on 01.04.1981 and the benefit of
indexation also be given to the Appellant. That the CIT(A) was
wrong
direction of Hon'ble ITAT
and hence the FMV as on 01.04.1981 adopted by the lower authorities is not
correct and the consequent addition ... sale instance of
Bhawani Singh road property has adopted FMV as on 01.04.1981 at the rate of
10 ITA No. 396/JP/2017
Late Shri
erred in law in directing that value of land as on 01.04.1981 be taken at Rs.95 per Sq. Ft. as the same ... done by Assessing Officer in respect of value of land as on 01.04.1981?
(H) Whether principle of res-judicata or constructive res-judicata will apply
property, hereinafter referred to as „Okhla land‟, as on 01.04.1981. A
prayer has also been made for issue of writ of certiorari for quashing ... take the fair market value of the Okhla
land as on 01.04.1981 in the place of the original cost of acquisition. In
order to support
getting schools) as indicated in Statement-I) who were in service
on 01.04.1981 and also to those who were appointed after that date provided
they ... institutions covered under
the said scheme to those who retired prior to 01.04.1981 on the same terms
and conditions and subject to due adjustments
equity
shares of M/s. Jyoti Pvt. Ltd., much before 01.04.1981.
Therefore, the fair market value of these shares is relevant
for the purpose ... option of the
assessee to take fair market value as on 01.04.1981 or cost
of acquisition. In the present case, the assessee has opted
where the capital
asset became property of the assessee before 01.04.1981, the cost of acquisition of
the asset to the assessee shall, at the option ... assessee, be taken as the Fair
Market Value (FMV) as on 01.04.1981. The assessee claimed the FMV as on
01.04.1981
both the appeals is against adoption of Fair Market
Value as on 01.04.1981 while computing income from capital gains.
ITA No.1424/PUN/2017 ... acres in total. The cost of
acquisition for the land as on 01.04.1981 was adopted as per the record
available for financial year
assessee had adopted the value of the property sold as
on 01.04.1981 on the basis of the Valuer's report which
is arbitrary.
Thirdly ... 2019 5
authority to find out the actual rate prevailing on
01.04.1981.
Fourthly, as per the valuation report, 2172 sq. mtrs.
land was valued
