COMMISSIONER OF INCOME TAX vs. M/S JINDAL STEEL THROUGH ITS MANAGING DIRECTOR

Appeals are hereby dismissed

Bench: HON'BLE MRS. JUSTICE B.V. NAGARATHNA

133, to buttress the point that market value of a thing has to be determined by reference to the price which a willing vendor might reasonably expect to obtain from a willing purchaser. Though that was a case relating to land acquisition, he submits that the principle laid down therein for computation of market value would hold good