https://www.taxtmi.com/caselaws?id=433204 The Tribunal allowed the assessee's appeal for statistical purposes, remanding the case to the ld. AO for reconsideration in accordance with directions. The ld. AO's jurisdiction for issuing notice u/s 148 was found to be excessive, as the cost of acquisition was calculated based on assumptions without referral to DVO. The Tribunal emphasized the need for proper consideration and referral to DVO for determining the cost of acquisition in calculating total income, ensuring a fair opportunity for the assessee during reassessment proceedings. en-us Fri, 11 Nov 2022 00:00:00 +0530 Tue, 24 Jan 2023 10:11:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433204 The Tribunal allowed the assessee's appeal for statistical purposes, remanding the case to the ld. AO for reconsideration in accordance with directions. The ld. AO's jurisdiction for issuing notice u/s 148 was found to be excessive, as the cost of acquisition was calculated based on assumptions without referral to DVO. The Tribunal emphasized the need for proper consideration and referral to DVO for determining the cost of acquisition in calculating total income, ensuring a fair opportunity for the assessee during reassessment proceedings. Case-Laws Income Tax Fri, 11 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433204