https://www.taxtmi.com/caselaws?id=361864 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s order that the AO's reference to the DVO was invalid. The Tribunal ruled in favor of accepting the valuation provided by the assessee's registered valuer over the DVO's valuation. It was held that the AO's reference to the DVO was without proper jurisdiction as the value claimed by the assessee exceeded the fair market value determined by the DVO. The Tribunal emphasized the inapplicability of the amended provisions of Section 55A(a) and cited relevant judgments from the Bombay and Calcutta High Courts to support its decision. en-us Wed, 13 Jun 2018 00:00:00 +0530 Fri, 15 Jun 2018 08:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361864 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s order that the AO's reference to the DVO was invalid. The Tribunal ruled in favor of accepting the valuation provided by the assessee's registered valuer over the DVO's valuation. It was held that the AO's reference to the DVO was without proper jurisdiction as the value claimed by the assessee exceeded the fair market value determined by the DVO. The Tribunal emphasized the inapplicability of the amended provisions of Section 55A(a) and cited relevant judgments from the Bombay and Calcutta High Courts to support its decision. Case-Laws Income Tax Wed, 13 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361864