2022 (9) TMI 882

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.... For the Appellant : None For the Respondent : Shri B.D. Gupta, Sr.D.R. ORDER PER : T.R. SENTHIL KUMAR, JUDICIAL MEMBER:- The present appeal has been filed by the Assessee against the order dated 27.04.2018 passed by the Commissioner of Income Tax (Appeals)-13, Ahmedabad as against the Assessment order passed under section 143(3) r.w.s. 147 of the Income Tax Act, 1961 (hereinafter r....

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....Valuer. Therefore the A.O. referred the matter u/s. 50C(2) of the Act, the Valuation Officer who determined the valued at Rs. 1,35,88,000/-. Assessee being 50% co-owner assessed Rs. 67,94,000/- as the sale consideration and determined the Long Term Capital Gain at Rs. 23,75,770/-. 3. Aggrieved against the same, the assessee filed an appeal before the Ld. CIT(A). Originally the DVO vide letter d....

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....rmined by the DVO for the purpose of computation of capital gain. Ld. CIT(A) rejected the claim on the ground that the DVO cannot revisit his order, without a fresh reference have been made to him, which is not legally tenable when assessment itself is completed. Thus the Ld. CIT(A) dismissed the appeal filed by the assessee. 4. Aggrieved against the same, the assessee is in appeal before us ra....

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....see calling upon its objection during the original valuation proceedings. Therefore taking into account, the assessee's objection second valuation report dated 28.02.2018 was submitted determining the value of the property at Rs. 1,05,08,000/-. The ld. CIT(A) erred in holding that the DVO cannot revisit his order and the second report is not binding either of the Assessing Officer or the Appellate....