Santhi Krishnan v. ITO - Taxpublishers.in

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The Tax Publishers2020 TaxPub(DT) 1939 (Coch-Trib) IN THE ITAT, COCHIN BENCH GEORGE GEORGE K., J.M. Santhi Krishnan v. ITO I.T.A. No. 671/Coch/2019 25 February, 2020 In favour of Assessee. Assessee by: R. Krishnan, FCA Revenue by: Mritunjaya Sharma, Sr. DR ORDER *George George K., J.M.* This appeal at the instance of the assessee is directed against the order of the Commissioner (Appeals), Trivandrum dated 04-10-2019. The relevant assessment year is 2006-07. 2. The grounds raised are as follows :-- 1) The learned Commissioner (Appeals) erred in confirming the order of the assessing officer computing capital gain of Rs. 18,37,600 in respect of sale of residential building in Chennai. 2) The learned Commissioner (Appeals) erred in summarily rejecting the arguments of the appellant and the Valuation Report filed by the appellant w.r.t fair market value of the property as on 01-4-1981. 3) The learned Commissioner (Appeals) ought to have appreciated that the valuation by the Registered Valuer is also one of the options available to arrive at the fair market value as on 01-04-1981. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers2020 TaxPub(DT) 1939 (Coch-Trib)

IN THE ITAT, COCHIN BENCH

GEORGE GEORGE K., J.M.

Santhi Krishnan v. ITO

I.T.A. No. 671/Coch/2019

25 February, 2020

In favour of Assessee.

Assessee by: R. Krishnan, FCA

Revenue by: Mritunjaya Sharma, Sr. DR

ORDER

George George K., J.M.

This appeal at the instance of the assessee is directed against the order of the Commissioner (Appeals), Trivandrum dated 04-10-2019. The relevant assessment year is 2006-07.

2. The grounds raised are as follows :--

1) The learned Commissioner (Appeals) erred in confirming the order of the assessing officer computing capital gain of Rs. 18,37,600 in respect of sale of residential building in Chennai.

2) The learned Commissioner (Appeals) erred in summarily rejecting the arguments of the appellant and the Valuation Report filed by the appellant w.r.t fair market value of the property as on 01-4-1981.

3) The learned Commissioner (Appeals) ought to have appreciated that the valuation by the Registered Valuer is also one of the options available to arrive at the fair market value as on 01-04-1981.