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FMV Claim Rejected Because No Error Shown in Valuation Methodology
Case Law Details
- Case Name
- Pravinsinh Bhawansinh Vaghela Vs ITO (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Ahmedabad
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Pravinsinh Bhawansinh Vaghela Vs ITO (ITAT Ahmedabad)
54B Relief Partly Upheld: Ahmedabad ITAT Allows Land-Levelling & Fencing Cost, valuation is a matter of estimation-Confirms FMV @ ₹5/sq.m as on 1-4-1981
Ahmedabad ITAT, ‘A’ Bench, in Pravinsinh Bhawansinh Vaghela Vs ITO (ITA No.829/Ahd/2019; AY 2012-13; order dated 18-12-2025), partly allowed the assessee’s appeal in a capital-gains dispute arising from sale of land.
On FMV as on 01-04-1981, the Tribunal upheld the CIT(A)’s adoption of ₹5 per sq. meter, noting that the AO’s DVO had estimated ₹3 per sq. meter and valuatio...
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