https://www.taxtmi.com/caselaws?id=295941 The ITAT upheld the CIT(A)'s decision to delete the addition under section 50C based on the fair market value discrepancy determined by the DVO, which was around 5.8%. Relying on legal precedents, including the Supreme Court's ruling and jurisdictional ITAT decisions, the ITAT concluded that the addition was not warranted. As a result, the ITAT dismissed the Revenue's appeal and affirmed the CIT(A)'s order to delete the addition of Rs. 2,31,95,180/ for the assessment year 2012-13. en-us Thu, 14 Mar 2019 00:00:00 +0530 Sat, 26 Jun 2021 06:55:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295941 The ITAT upheld the CIT(A)'s decision to delete the addition under section 50C based on the fair market value discrepancy determined by the DVO, which was around 5.8%. Relying on legal precedents, including the Supreme Court's ruling and jurisdictional ITAT decisions, the ITAT concluded that the addition was not warranted. As a result, the ITAT dismissed the Revenue's appeal and affirmed the CIT(A)'s order to delete the addition of Rs. 2,31,95,180/ for the assessment year 2012-13. Case-Laws Income Tax Thu, 14 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295941