Faceless assessment notice must cover specific prejudicial variations; unexplained final additions without notice breach section 144B and natural just...
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Where an assessee objects to stamp-duty valuation under section 50C and requests reference to the Valuation Officer, compliance with that statutory procedure is mandatory. The Tribunal found that no effective DVO reference had actually been made, as the record showed only a request for technical assistance and no follow-up communication from the assessment unit. On that basis, adoption of stamp value for the capital gains addition was unsustainable and the addition was deleted. The Tribunal also rejected the Revenue's request to remand the matter for a post-assessment valuation report, holding that doing so would impermissibly extend the assessment limitation and that section 155(15) did not apply where no valuation report existed.
Where an assessee objects to stamp-duty valuation under section 50C and requests reference to the Valuation Officer, compliance with that statutory procedure is mandatory. The Tribunal found that no effective DVO reference had actually been made, as the record showed only a request for technical assistance and no follow-up communication from the assessment unit. On that basis, adoption of stamp value for the capital gains addition was unsustainable and the addition was deleted. The Tribunal also rejected the Revenue's request to remand the matter for a post-assessment valuation report, holding that doing so would impermissibly extend the assessment limitation and that section 155(15) did not apply where no valuation report existed.
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