https://www.taxtmi.com/caselaws?id=261117 The ITAT upheld the CIT(A)'s decision, dismissing the Revenue's appeal. The deletion of the addition on account of long-term capital gain based on the DVO's report was overturned in favor of the Approved Valuer's report, providing relief to the assessee. The rejection of the DVO's report due to procedural flaws and lack of opportunity for the assessee to present objections was upheld. The assessment order by the AO was deemed legally unsustainable, leading to the dismissal of the Revenue's appeal and upholding of the CIT(A)'s order in favor of the assessee. en-us Wed, 24 Jun 2015 00:00:00 +0530 Fri, 03 Jul 2015 07:46:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261117 The ITAT upheld the CIT(A)'s decision, dismissing the Revenue's appeal. The deletion of the addition on account of long-term capital gain based on the DVO's report was overturned in favor of the Approved Valuer's report, providing relief to the assessee. The rejection of the DVO's report due to procedural flaws and lack of opportunity for the assessee to present objections was upheld. The assessment order by the AO was deemed legally unsustainable, leading to the dismissal of the Revenue's appeal and upholding of the CIT(A)'s order in favor of the assessee. Case-Laws Income Tax Wed, 24 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261117