https://www.taxtmi.com/caselaws?id=387953 The appeal involved a dispute over the valuation of land for determining capital gain, with the Assessing Officer (AO) rejecting a registered valuer's report. The appellant argued that a District Valuation Officer (DVO) report was necessary as per legal requirements. The Co-ordinate Bench emphasized the importance of obtaining a DVO report before rejecting the valuer's assessment. The AO's failure to do so led to the assessment order being quashed, and the matter was remitted for a fresh determination based on the DVO's report. The appeal was allowed for statistical purposes, stressing adherence to legal principles and fair valuation practices. en-us Fri, 18 Oct 2019 00:00:00 +0530 Tue, 05 Nov 2019 15:45:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387953 The appeal involved a dispute over the valuation of land for determining capital gain, with the Assessing Officer (AO) rejecting a registered valuer's report. The appellant argued that a District Valuation Officer (DVO) report was necessary as per legal requirements. The Co-ordinate Bench emphasized the importance of obtaining a DVO report before rejecting the valuer's assessment. The AO's failure to do so led to the assessment order being quashed, and the matter was remitted for a fresh determination based on the DVO's report. The appeal was allowed for statistical purposes, stressing adherence to legal principles and fair valuation practices. Case-Laws Income Tax Fri, 18 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387953