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TMI Blog2014 (9) TMI 931X X X X Extracts X X X X X X X X Extracts X X X X ..... see could have sold her plot at a price which was stipulated by the stamp duty authorities. No such action was taken by the Assessing Officer despite the specific direction by the Bench to analyse the issue "objectively". Under these circumstances I am of the firm view that the action of the Assessing Officer is not in accordance with law - Addition made is deleted - Decided in favour of assessee. - ITA No. 4785/Mum/2014 - - - Dated:- 10-9-2014 - Shri D. Manmohan, J. For the Appellant : Shri G.P. Mehta For the Respondent : Shri Neil Philip ORDER D. Manmohan (Vice-President). This appeal, by the assessee, is directed against the order passed by the Commissioner of Income-tax (Appeals)-23, Mumbai and it pertains to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... objected to the value adopted by the stamp duty authorities as market value, the Assessing Officer has a discretion to refer the matter to the Valuation Officer for valuation of the capital asset. In the instant case the Assessing Officer did not apply his mind on this aspect and hence the issue was set aside to the file of the Assessing Officer with a direction to pass a speaking order. It was also mentioned that the assessee is free to produce any supporting material in respect of her claim that the market value is much lower than the stamp duty value. It deserves to be noticed that the Tribunal mentioned that the assessee is free to produce supporting material which do not indicate that the assessee is directed to produce supporting mat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rket and internal roads. However, no such facilities existed at the material time, i.e., at the time of sale of the property in question. It was also submitted that this large piece of land is about 4 kms away from Palghar Railway Station. The plot sold is about 1 km interior from the main Mahim road and at the fag end of the layout. Services like water supply and sewage disposal are not developed. Copy of the entire layout plan was also produced to show that the plot in question was located in a very disadvantageous location and could not fetch more value than what it was sold for. 7. The Assessing Officer, however, was of the opinion that in the absence of a registered Government approved valuer's report the plea of the assessee ca ..... X X X X Extracts X X X X X X X X Extracts X X X X
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