https://www.taxtmi.com/caselaws?id=756790 The ITAT Ahmedabad dismissed the Department's appeal regarding LTCG on land sale. The assessee objected to stamp duty valuation, claiming title defects made the Jantri value incorrect. The ITAT held that under Section 50C(2), when an assessee objects to property valuation proposed by the AO, mandatory referral to DVO is required. Since the assessee raised specific objections about defective title affecting property value, the CIT(Appeals) correctly directed DVO referral. The ITAT found no infirmity in the CIT(Appeals) order requiring interference. en-us Wed, 07 Aug 2024 00:00:00 +0530 Fri, 09 Aug 2024 08:56:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756790 The ITAT Ahmedabad dismissed the Department's appeal regarding LTCG on land sale. The assessee objected to stamp duty valuation, claiming title defects made the Jantri value incorrect. The ITAT held that under Section 50C(2), when an assessee objects to property valuation proposed by the AO, mandatory referral to DVO is required. Since the assessee raised specific objections about defective title affecting property value, the CIT(Appeals) correctly directed DVO referral. The ITAT found no infirmity in the CIT(Appeals) order requiring interference. Case-Laws Income Tax Wed, 07 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756790