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TMI Blog2019 (7) TMI 1492X X X X Extracts X X X X X X X X Extracts X X X X ..... addition made by the ld.CIT(A) by way of enhancement - HELD THAT:- There is no apparent error in the order of the Tribunal. The Tribunal has deleted the addition, if any, computed on the basis of DVO s report because the Tribunal has observed that if the value of the property shown by the assessee as on 1.4.1981 is more than the fair market value, then the AO has no jurisdiction to make reference ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of acquisition as on 1.4.1981 on the basis of registered valuer s report. In other words, the addition made by the AO as well as enhanced by the ld.CIT(A), both are not sustainable. MA of the assessee is allowed. - Misc. Application No.10 /Ahd/2019 IN ITA No.783 /Ahd/2015 - - - Dated:- 29-7-2019 - Shri Rajpal Yadav, Judicial Member And Shri Waseem Ahmed, Accountant Member ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0/-. By adopting this cost of acquisition, the ld.AO has made the addition in the computation of long term capital gain. On appeal, the ld.CIT(A) has observed that DVO has submitted supplementary valuation report determined on 9.1.2014. According to this DVO s report, the market value of the property as on 1.4.1981 was determined at ₹ 12,61,103/- as against ₹ 36,54,000/- taken original ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mistake, which is sought to be rectified, is an obvious patent mistake, which is apparent from the record and not a mistake, which is required to be established by arguments and long drawn process of reasoning on points, on which there may conceivably be two opinions. Basically, there is no apparent error in the order of the Tribunal. The Tribunal has deleted the addition, if any, computed on the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee, then, we may reiterate that once reference to the DVO is invalid, then both the reports submitted by him are required to be ignored and the capital gain in the hands of the assessee is to be computed by taking cost of acquisition as on 1.4.1981 on the basis of registered valuer s report. In other words, the addition made by the AO as well as enhanced by the ld.CIT(A), both are not sustainab ..... X X X X Extracts X X X X X X X X Extracts X X X X
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