https://www.taxtmi.com/caselaws?id=407946 The Tribunal allowed the assessee's appeal, ruling that the Assessing Officer's reference to the District Valuation Officer was not valid under the unamended provisions of Section 55A(a) for the assessment year 2012-13. The Tribunal held that the amended provisions allowing for variance with Fair Market Value were not retroactively applicable. Consequently, the additions based on the DVO's valuation were deleted, aligning with relevant case law and the High Court's decisions on the matter. en-us Wed, 19 May 2021 00:00:00 +0530 Thu, 27 May 2021 08:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407946 The Tribunal allowed the assessee's appeal, ruling that the Assessing Officer's reference to the District Valuation Officer was not valid under the unamended provisions of Section 55A(a) for the assessment year 2012-13. The Tribunal held that the amended provisions allowing for variance with Fair Market Value were not retroactively applicable. Consequently, the additions based on the DVO's valuation were deleted, aligning with relevant case law and the High Court's decisions on the matter. Case-Laws Income Tax Wed, 19 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407946