https://www.taxtmi.com/caselaws?id=370051 The Tax Appeal challenging the deletion of addition of Rs. 13,97,290 for Long Term Capital Gains for Assessment Year 2011-12 was dismissed. The court affirmed the Income Tax Appellate Tribunal's decision, emphasizing the Assessing Officer's limited authority to refer to the District Valuation Officer for determining fair market value of assets as of 01.04.1981. Citing precedent, the court clarified that the Assessing Officer's power to refer to the DVO was constrained by specific conditions, ultimately leading to the dismissal of the appeal. en-us Mon, 08 Oct 2018 00:00:00 +0530 Thu, 08 Nov 2018 10:59:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370051 The Tax Appeal challenging the deletion of addition of Rs. 13,97,290 for Long Term Capital Gains for Assessment Year 2011-12 was dismissed. The court affirmed the Income Tax Appellate Tribunal's decision, emphasizing the Assessing Officer's limited authority to refer to the District Valuation Officer for determining fair market value of assets as of 01.04.1981. Citing precedent, the court clarified that the Assessing Officer's power to refer to the DVO was constrained by specific conditions, ultimately leading to the dismissal of the appeal. Case-Laws Income Tax Mon, 08 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370051