Value recorded in registered sale deed cannot be sole basis for determining FMV

IN THE ITAT CHANDIGARH BENCH ‘B’ Manjit Singh versus Deputy Commissioner of Income-tax IT APPEAL NO. 1037 (CHD.) OF 2011 [ASSESSMENT YEAR 2008-09] SEPTEMBER 28, 2012 ORDER Mehar Singh, Accountant Member The present appeal filed by the assessee is directed against the order dated 07.09.2011 passed by the ld. CIT(A) u/s 250(6) of the Income-tax Act,1961 (in short ‘the Act’). 2. In this appeal, the assessee has raised the following Grounds of Appeal: ‘1.  That the ld. CIT(A)-I, Ludhiana has erred in confirming the addition made by the Assessing Off...