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TMI Blog1989 (11) TMI 110X X X X Extracts X X X X X X X X Extracts X X X X ..... share of the assessee in a property situated at Devanga High School Road, Coimbatore. In the cases of both Chinnaswamy and Kulandaivel, there was an Inspector's report on the basis of which the aggregate value of the property was taken at Rs. 16,65,801or the 1/3rd share came to Rs. 5,55,267. Chinnaswamy and Kulandaivel both preferred appeals and in one case the A.A.C. and in the other case the C.I.T. (A) stated that a value of Rs. 5,000 per cent should be taken and this gave an effective value of Rs. 5,18,734 as the 1/3rd share which would have given an aggregate value of Rs. 15,56,202. Neither Chinnaswamy nor Kulandaivel preferred further appeals. 3. In the assessee's case, for the assessment year 1982-83, the 1/3rd share was taken at Rs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wner the same value should be taken as in the case of the other co-owners for the property, if there were special circumstances, a deviation would be warranted. In the present case, he submitted that a deviation was warranted because in the case of neither of the other co-owners the factum of sale of partition had been adverted to and discussed, (b) The other co-owners were not interested in pursuing the neater further because part of the property had been sold, namely, 1 acre 10 cents subsequently and whatever remained of 72 cents was allotted to the assessee. Since in the assessee's case it would be a recurring matter, the assessee was compelled to come up in appeal, (c) Adverting to the portion sold of 1 acre 10 cents which was for an ag ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itted that the said order of the C.I.T. (A) was dated 15-6-1989 and it was not known whether the Revenue had still accepted the same or not. In any view of the matter, the learned Departmental Representative submitted that there was no warrant for deviating from the value fixed in the case of the other co-owners which came to Rs. 5,18,734 for the 1/3rd share. 7. We have considered the rival submissions. We are in complete agreement with the learned Departmental Representative that normally the value taken in respect of a property in the case of one co-owner should be taken as the value in the case of the other co-owners. But this is not an inflexible rule, and, where cogent material is let in to show that there are relevant, and compelling ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Since the sale took place just after the last of the valuation dates for the land of 1 acre 10 cents sold, we would direct that the 1/3rd share of the assessee be taken at Rs. 1,83,334 based on the total sale consideration of Rs. 5,50,000. 9. The aforesaid was the sale consideration of 1 acre 10 cents including a building. The balance left with the assessee was only 72 cents. For the balance of 72 cents, i.e., 38 cents lesser than the area sold, the value placed in the partition deed is about the same figure, the value shown being Rs. 5,48,000. Therefore, we can assume that the value of the building included in the sale of 1 acre 10 cents has been duly adjusted and the value shown of Rs. 5,48,000 for 72 cents is not understated. Hence for ..... X X X X Extracts X X X X X X X X Extracts X X X X
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