https://www.taxtmi.com/caselaws?id=233915 The Tribunal partly allowed the appeal, ruling that the AO lacked jurisdiction to refer the valuation under section 55A as the DVO's assessment was lower than the FMV declared by the assessee. The Tribunal directed the AO to adopt the assessee's FMV for capital gains calculation, emphasizing adherence to correct valuation principles and fair treatment in tax assessments. The judgment underscored the significance of established legal precedents and taxpayer rights in valuation disputes, clarifying the AO's jurisdiction in such matters. en-us Fri, 05 Apr 2013 00:00:00 +0530 Sat, 04 May 2013 18:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233915 The Tribunal partly allowed the appeal, ruling that the AO lacked jurisdiction to refer the valuation under section 55A as the DVO's assessment was lower than the FMV declared by the assessee. The Tribunal directed the AO to adopt the assessee's FMV for capital gains calculation, emphasizing adherence to correct valuation principles and fair treatment in tax assessments. The judgment underscored the significance of established legal precedents and taxpayer rights in valuation disputes, clarifying the AO's jurisdiction in such matters. Case-Laws Income Tax Fri, 05 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233915