Minor Valuation Difference Cannot Justify Capital Gains Addition: ITAT Surat

Manishabne Kaizad Motawala Vs TTO (ITAT Surat) Minor Valuation Difference Cannot Justify Capital Gains Addition: ITAT Surat Accepts Registered Valuer’s Cost of Acquisition The Surat Bench (SMC) of the ITAT allowed the assessee’s appeal for AY 2022-23, deleting the addition made on account of difference in cost of acquisition of ancestral property as on 01.04.2001. The assessee had adopted a value of ₹1,100 per sq. meter based on a Registered Valuer’s report, whereas the Assessing Officer, relying on the DVO’s report, adopted a slightly lower value of ₹1,000 per sq. meter and made a...