Holistic view adopted for calculation of fair market value

Prafulchandra Bhaichandbhai Patel Vs ITO (ITAT Surat)

Held that tribunal in assessee’s co-owner case has taken holistic view in adoption of fair market value as DVO has himself stated in his report that the impugned land was situated at a more appropriate location as compared to sale instances considered by him.

Facts-

The appellant contended that CIT(A) has erred in confirming the action of the assessing officer in making addition on account of cost of indexation claimed by the appellant by adopting cost of indexation at INR 200 per sq. mtr. instead of INR 825 per sq. mtr.

Conclusion-

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