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TMI Blog2015 (6) TMI 426X X X X Extracts X X X X X X X X Extracts X X X X ..... of the prices having increased during the year. There are certain other aspects which require consideration such as the fact that the appellant's lands were not on the main road but behind those which abutted the main road and the lands that abutted the main road fetched the price of 19,837/- per marla. The questions of law are, therefore, answered in favour of the assessee/appellant, only for this limited reason, namely, the authorities ought to have made an effort to ascertain the price rather than merely relying upon the rate at which the lands were sold in the subsequent year. Matter is remanded to the Assessing Officer, only for the limited purpose of ascertaining the rate at which the appellant could have sold his lands. - Decided in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Ld. AO was justified in applying the same sale price to the land sold by the appellant vis-a-vis land sold by Shri Surjit Singh though the lands were sold by the appellant one year before the sale of land by Shri Surjit Singh? 3. Whether on the facts and circumstances of the case, the Ld. AO was justified in applying the same rate of sale price of land as applied by Shri Surjit Singh even though the land of Shri Surjit Singh was located opposite to Office of Deputy Commissioner and was on the road whereas property of the appellant was on back of land of Shri Surjit Singh and would fetch lesser price?" 4. By an order dated 06.02.2015, the earlier Division Bench noticed the submission on behalf of the appellant's counsel that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... road fetched the price of ₹ 19,837/- per marla. 6. The questions of law are, therefore, answered in favour of the assessee/appellant, only for this limited reason, namely, the authorities ought to have made an effort to ascertain the price rather than merely relying upon the rate at which the lands were sold in the subsequent year. 7. The appeal is, accordingly, allowed. The impugned order dated 27.03.2014 (Annexure A-7) is set aside and the matter is remanded to the Assessing Officer, only for the limited purpose of ascertaining the rate at which the appellant could have sold his lands. Considering the nature of the matter, we would request the Assessing Officer to complete the exercise within 12 weeks from today. He shall not ente ..... X X X X Extracts X X X X X X X X Extracts X X X X
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