https://www.taxtmi.com/caselaws?id=356725 The Tribunal allowed the appeal for statistical purposes, directing the AO to refer the valuation issue to the DVO and determine the FMV as on 1981. The adhoc disallowance of expenses was reduced to 10% of the claimed amount. The grounds related to procedural lapses in reopening the assessment were dismissed as not pressed. The Tribunal emphasized the mandatory nature of referring valuation disputes to the DVO as per section 50C(2). en-us Wed, 28 Feb 2018 00:00:00 +0530 Sat, 10 Mar 2018 06:57:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356725 The Tribunal allowed the appeal for statistical purposes, directing the AO to refer the valuation issue to the DVO and determine the FMV as on 1981. The adhoc disallowance of expenses was reduced to 10% of the claimed amount. The grounds related to procedural lapses in reopening the assessment were dismissed as not pressed. The Tribunal emphasized the mandatory nature of referring valuation disputes to the DVO as per section 50C(2). Case-Laws Income Tax Wed, 28 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356725