https://www.taxtmi.com/caselaws?id=343906 The appellate court upheld the decision of the Commissioner of Income Tax (Appeals) regarding the Assessing Officer's jurisdiction to refer valuation to the Departmental Valuation Officer. The court found that the Assessing Officer could only refer the matter if the value declared by the assessee was less than the fair market value, as per legal precedents. The court dismissed the appeal filed by the Revenue, as the formal issue raised did not require adjudication. en-us Wed, 31 May 2017 00:00:00 +0530 Mon, 05 Jun 2017 08:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343906 The appellate court upheld the decision of the Commissioner of Income Tax (Appeals) regarding the Assessing Officer's jurisdiction to refer valuation to the Departmental Valuation Officer. The court found that the Assessing Officer could only refer the matter if the value declared by the assessee was less than the fair market value, as per legal precedents. The court dismissed the appeal filed by the Revenue, as the formal issue raised did not require adjudication. Case-Laws Income Tax Wed, 31 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343906