https://www.taxtmi.com/caselaws?id=792660 For an assessment year governed by the unamended section 55A, the Assessing Officer could not refer the matter to the DVO merely to reduce the fair market value adopted by the assessee on the basis of a registered valuer's report for 01.04.1981. In that setting, the DVO's lower valuation was not a valid basis to sustain an addition to long-term capital gains under section 48. The adjustment made by the Assessing Officer was therefore unsustainable, and the issue was decided in favour of the assessee. en-us Fri, 29 May 2026 00:00:00 +0530 Mon, 01 Jun 2026 08:25:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792660 For an assessment year governed by the unamended section 55A, the Assessing Officer could not refer the matter to the DVO merely to reduce the fair market value adopted by the assessee on the basis of a registered valuer's report for 01.04.1981. In that setting, the DVO's lower valuation was not a valid basis to sustain an addition to long-term capital gains under section 48. The adjustment made by the Assessing Officer was therefore unsustainable, and the issue was decided in favour of the assessee. Case-Laws Income Tax Fri, 29 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792660