COMMISSIONER OF INCOME TAX Vs. RAJIV MEHTA
HIGH COURT OF DELHI
COMMISSIONER OF INCOME TAX
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(1.) A No. 155/Del/2002. The present appeal has been preferred in respect of ITA(SS)A No. 141/Del/2002.
(2.) THE only question that has come up for consideration is with regard to the value of the property being the ground floor at E -16/12, Kalkaji, New Delhi.
(3.) ACCORDING to the assessee he has purchased the property for a sum of Rs.20 laks under a registered document. However, the AO relied upon the statement given by the wife of the assessee to the effect that the property was actually
purchased for Rs. 70 lakhs.
Officer valued the property at Rs. 31.44 lakhs. However, the AO did not go by the report of the Valuation Officer and chose to accept the value as stated by the wife of the assessee.;
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