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FMV of immovable property can't be rejected due to non-recording of difference in books of accounts

September 13, 2019[2019] 109 165 (Ahmedabad - Trib.)

INCOME TAX : Basis of determination of FMV could not have been rejected on ground that no accounting entry had been passed in respect of difference between FMV of immovable property at relevant point of time in books of accounts, as, it is well settled that even where assessee fails to make necessary entries in books of accounts, it will not operate as a bar for claiming benefits by way of deduction etc.
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