2025 (1) TMI 1740

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....IKAS AWASTHY, JM: This appeal by the assessee is directed against the order of Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi (hereinafter referred to as 'the CIT(A)') dated 15.10.2024, for assessment year 2020-21. 2. Shri Nitin Gulati, appearing on behalf of the assessee submits that during the period relevant to assessment year under appeal, the assess....

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....pleted assessment u/s. 143(3) r.w.s 144B of the Act on the basis of incomplete records. The assessee carried the issue in appeal before the CIT(A). The assessee filed an application u/s. 46A of the Act for placing on record Valuation Report from the Approved Valuer and also comparable sale deeds from the same locality. The CIT(A) rejected valuation report stating it to be not from a Valuation Offi....

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....ITO, 159 taxmann.com 1584 (Kolkata-Trib.); (v) Mansukhlal Ghelabhai Doshi vs. ACIT, 48 taxmann.com 181 (Rajkot-Trib.); & (vi) ACIT vs. Tarun Agarwal, 97 taxmann.com 346 (Agra-Trib.). 3. Per contra, Shri Sanjay Kumar representing the department vehemently supporting impugned order submits that the valuation report furnished by the assessee was not from the approved valuer, henc....

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..... The assessee had furnished valuation report from alleged approved valuer before the CIT(A) and also provided sale instances of properties from the same vicinity. The CIT(A) rejected Valuation report furnished by the assessee stating it to be not from approved valuer and did not take cognizance of comparable sale instances provided by the assessee. Nor any valuation report was sought by the CIT(A....