Differential treatment cannot be meted out to another co-owner while making assessment of same property

Co-owned property cannot be valued at a value different  from value accepted in case of another co-owner The fact that the godown was constructed in F.Y. 1995-96 is not in dispute. The dispute is about the cost of construction. Assessee after considering the cost of acquisition at Rs. 27 lacs had worked out the capital gains which was not acceptable to AO, Ld. CIT(A) while allowing the appeal of Assessee has noted that the valuation report of the valuer had also estimated the cost of construction of the godown at Rs. 54 lacs and therefore the Assessee’s share of 1/2 worked out to Rs. 27 lac...