https://www.taxtmi.com/caselaws?id=450991 ITAT Ahmedabad held that reference to DVO under section 55A for determining fair market value of land cost cannot be made for Assessment Year 2012-13. The amendment to section 55A(a) effective from 01-07-2012 allowing such references applies only from Assessment Year 2013-14 onwards. Since the case pertained to Assessment Year 2012-13, the reference was not sustainable. The tribunal deleted the addition made by lower authorities regarding capital gains valuation. en-us Fri, 15 Mar 2024 00:00:00 +0530 Mon, 18 Mar 2024 07:53:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450991 ITAT Ahmedabad held that reference to DVO under section 55A for determining fair market value of land cost cannot be made for Assessment Year 2012-13. The amendment to section 55A(a) effective from 01-07-2012 allowing such references applies only from Assessment Year 2013-14 onwards. Since the case pertained to Assessment Year 2012-13, the reference was not sustainable. The tribunal deleted the addition made by lower authorities regarding capital gains valuation. Case-Laws Income Tax Fri, 15 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450991