Fair Market Value determined by Registered valuers for Computation of Taxable value should not be ignored: ITAT [Read Order]

Fair market value determined by registered valuers - for computation of taxable value should not be ignored - ITAT - TAXSCAN

The Surat Bench of Income Tax Appellate Tribunal (ITAT) has held that the fair market value determined by the registered valuers for the purpose of computation of taxable value should not be ignored. AssesseeHarivadanbhaiMaganlal Patel was an individual. The four co-owners had sold immovable properties. On-going through the sale deed, the assessing officer noted that…

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