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TMI Blog2018 (9) TMI 1087X X X X Extracts X X X X X X X X Extracts X X X X ..... icer nor before the CIT(A). Even before the Tribunal except stating that sale consideration was received on 31/07/2008 as there is a dispute in respect of property, but not filed any such details. Therefore, the authorities below have adopted the value of the property as per SRO by considering section 50C on the date of registration. No infirmity in the order of the CIT(A). - Decided against assessee. Disallowance of development expenses - addition as no evidence is filed - Held that:- On appeal, ld. CIT(A) has considered 1.00 lakh for improvement of the property and directed the Assessing Officer to re-compute the capital gains. We find no infirmity in the direction of the ld. CIT(A) to re-compute the capital gains. Thus, this ground of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 31.10 lakhs as a sale consideration in accordance with the provisions of section 50C of the Act. 4. On appeal before the ld. CIT(A), it was submitted that the sale consideration was paid on 31/07/2008 and the registration was supposed to take effect on 31/07/2008. However, as there was some dispute, the registration was postponed to 07/08/2008 and by the time, the revised valuation was adopted by the Registering Authority. The assessee filed an affidavit in this regard and submitted that the adoption of higher value under section 50C is not justified. The ld. CIT(A) considered the explanation of the assessee and rejected the same by observing as under:- 5. ....... I have considered the pleas raised. The transfer can be said to hav ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sideration was received on 31/07/2008 as there is a dispute in respect of property, but not filed any such details. Therefore, the authorities below have adopted the value of the property as per SRO by considering section 50C of the Act on the date of registration. We find no infirmity in the order of the ld. CIT(A). Thus, this ground of appeal raised by the assessee is dismissed. 8 . The another ground of appeal relating to development expenses. 9. The Assessing Officer disallowed the entire expenditure claimed by the assessee on account of development / improvement of the property on the ground that no evidence is filed. On appeal, ld. CIT(A) has considered 1.00 lakh for improvement of the property and directed the Assessing Offi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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