1994 (11) TMI 21

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..... : " 1. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding and had valid materials to hold that there was no justification to raise the value of the property to Rs. 2,10,000 and the sale price of Rs. 1,35,000 would itself be reasonable and should be adopted while computing the capital gains ? 2. Whether, on the facts and in the circumstances .....

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..... of the fair market value at Rs. 2,10,000. Aggrieved, the assessee filed an appeal before the Appellate Tribunal. The Appellate Tribunal held that inasmuch as there was no proof that extra consideration passed between the parties, section 52(2) of the Act cannot be invoked. To come to this conclusion, the Tribunal relied on the decision of this court in Addl. CIT v. P. S. Kuppuswamy [1978] 112 ITR .....

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