Learning from reported judgment and practical support:Addition due to valuation differences cannot be made in intimation or order u.s. 143.1 – proper course for AO is to issue notice u.s 143.2, in case of need to make reference to Departmental Officer for valuation, and then pass order u.s. 143.2.Assesse must challenge addition made u.s.143.1 as beyond scope of S. 143.1. In case of addition is made after valuation made by DVO, the valuation alos need to be challenged if it is excessive.

Learning from reported judgment and practical support:Addition due to valuation differences cannot be made in intimation or order u.s. 143.1 – proper course for AO is to issue notice u.s 143.2, in case of need to make reference to Departmental Officer for valuation, and then pass order u.s. 143.2.Assesse must challenge addition made u.s.143.1 as beyond scope of S. 143.1. In case of addition is made after valuation made by DVO, the valuation alos need to be challenged if it is excessive. https://www.taxtmi.com/article/detailed?id=13883 Additions for valuation differences cannot be made under section 143(1); the Assessing Officer must issue notice under section 143(2) and, where section 50C applies, refer valuation to a departmental Valuation Officer. Assessees disputing stamp valuation should disclose it in the return, expressly challenge it to prompt a DVO reference, and, if additions are made under section 143(1), challenge both the jurisdictional basis and any excessive valuation in appeal. en-us Sat, 22 Mar 2025 09:00:56 +0530 Sat, 22 Mar 2025 09:00:56 +0530 TaxTMI RSS Generator Learning from reported judgment and practical support:Addition due to valuation differences cannot be made in intimation or order u.s. 143.1 – proper course for AO is to issue notice u.s 143.2, in case of need to make reference to Departmental Officer for valuation, and then pass order u.s. 143.2.Assesse must challenge addition made u.s.143.1 as beyond scope of S. 143.1. In case of addition is made after valuation made by DVO, the valuation alos need to be challenged if it is excessive. https://www.taxtmi.com/article/detailed?id=13883 Additions for valuation differences cannot be made under section 143(1); the Assessing Officer must issue notice under section 143(2) and, where section 50C applies, refer valuation to a departmental Valuation Officer. Assessees disputing stamp valuation should disclose it in the return, expressly challenge it to prompt a DVO reference, and, if additions are made under section 143(1), challenge both the jurisdictional basis and any excessive valuation in appeal. Articles Income Tax Sat, 22 Mar 2025 09:00:56 +0530 https://www.taxtmi.com/article/detailed?id=13883