2017 (4) TMI 1531

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....r. DR ORDER SHRI MAHAVIR PRASAD, J. This appeal has been preferred by the assessee is directed against the order of the Commissioner of Income Tax(Appeals)-II, Ahmedabad, dated 05/03/2014 for the Assessment Year (AY) 2007-08. 2. Assessee has been taken following Grounds of appeals: (i). The learned Commissioner of Income Tax(Appeals) has erred in law and on facts in dismissing....

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....for valuation to the learned Departmental Valuation Officer as required u/s. 50C(2) of the Act. 4. On receipt of the Valuation Report from the Departmental Valuation Officer, the learned AO's order of the valuation made by the Departmental Valuation Officer of the concerned property and made the addition of differential amount i.e. difference between the valuation of the property made by the De....

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....other hand learned AR stated that Departmental Valuation Officer has not given any opportunity to the appellant to submit his objection and comments in this regard to the proposed adoption of value of the concerned property. 9. It is stated that has per the layout plan clearly shows that the areas of Final Plot No.3 of Block No. 114 bearing Survey No.'s 84/1 + 84/2 as per TP Scheme No.19 is 24,....

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....arned AR further stated that Departmental Valuation Officer has determined the fair market value of the plot for 09/03/2007, where it should have been determined for the month of December 2006. 14. As per the learned AR, Departmental Valuation Officer has also made exceedingly higher estimate of sale rate of Rs. 300/- per sq.mt., when the comparable sales instances show the average sale rate of....