https://www.taxtmi.com/caselaws?id=766149 ITAT Delhi allowed assessee's appeal for statistical purposes regarding capital gains computation under Section 50C. Court held that when assessee disputes adoption of circle rate over actual sale consideration, AO/CIT(A) must refer matter to DVO for fair market value determination as per Section 50C(2), which was not done. Addition of unexplained cash receipt was deleted as revenue failed to provide evidence or cross-verify with buyer. Matters regarding construction cost payment and unexplained cash credit were remanded to AO for factual verification and fresh adjudication. en-us Thu, 09 Jan 2025 00:00:00 +0530 Wed, 19 Feb 2025 08:42:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766149 ITAT Delhi allowed assessee's appeal for statistical purposes regarding capital gains computation under Section 50C. Court held that when assessee disputes adoption of circle rate over actual sale consideration, AO/CIT(A) must refer matter to DVO for fair market value determination as per Section 50C(2), which was not done. Addition of unexplained cash receipt was deleted as revenue failed to provide evidence or cross-verify with buyer. Matters regarding construction cost payment and unexplained cash credit were remanded to AO for factual verification and fresh adjudication. Case-Laws Income Tax Thu, 09 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766149