https://www.taxtmi.com/caselaws?id=282699 The Tribunal allowed the assessee's appeal and dismissed the Revenue's appeal, holding that the Assessing Officer lacked authority to refer the matter to the District Valuation Officer under Section 55A of the Income Tax Act when the value claimed by the assessee was not less than the fair market value. The Tribunal accepted the valuation by the registered valuer as fair and reasonable, rejecting the reliance on the DVO's report. The decision was rendered on 10-09-2014. en-us Wed, 10 Sep 2014 00:00:00 +0530 Tue, 20 Aug 2019 20:35:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282699 The Tribunal allowed the assessee's appeal and dismissed the Revenue's appeal, holding that the Assessing Officer lacked authority to refer the matter to the District Valuation Officer under Section 55A of the Income Tax Act when the value claimed by the assessee was not less than the fair market value. The Tribunal accepted the valuation by the registered valuer as fair and reasonable, rejecting the reliance on the DVO's report. The decision was rendered on 10-09-2014. Case-Laws Income Tax Wed, 10 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282699