Court Clarifies CIT(A) Can Refer to DVO for Property FMV u/s 55A if Conditions Are Met.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Jurisdiction of CIT(A) to make a reference to DVO to determine the FMV of the property - The Revenue insists that the power is being exercised only under Section 250(4) alone - reference is invalid and set aside - However reference can be made u/s 55A subject to conditions stipulated therein - HC....