Shri Nigam R. Desai, Vapi vs The Income Tax Officer, Ward-2,, Vapi on 19 January, 2017
3. We have heard both the sides and gone through the record
carefully. We find from the copy of order produced by the learned
counsel in the case of Babubhai Nichchabhai Desai (HUF) in which
the coordinate bench of the hon'ble ITAT held that the fair market
value of Rs.102/- by averaging minimum and maximum rate given by
Sub-registrar, Daman and the rate given by govt. approved valuer (
Rs. 33+ Rs. 135 +Rs. 108= Rs. 306/3= Rs. 102), was applied.We
considered that the decision of the coordinate bench relate to the
description of the property similar to the case of the assessee,
therefore, the MA of the assessee is allowed and the assessing
officer is directed to adopt the rate of Rs.102/- as decided by the
MA no. 04/Ahd/2016 ( in CO No. 238/Ahd/2012) A.Y. 2008-09 Page No 3
Nigam R. Desai vs. ITO
coordinate bench of the ITAT in the case of Babubhai Nichchabhai
Desai (HUF) (ITA 373/Ahd/2012) for the assessment year 2008-09.