Capital gain - Valuation of the property sold by the assessee - ...

Income Tax

March 18, 2024

Capital gain - Valuation of the property sold by the assessee - reference to DVO - ITAT noted that the reference made by the AO to the VO was not in accordance with the relevant provisions of the Act. - The Tribunal analyzed the provisions of section 55A of the Act, both before and after the amendment effective from 01-07-2012. It determined that the amendment was not applicable to the relevant assessment year and, therefore, the reference made by the AO to the VO was not valid.

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Capital gain - Valuation of the property sold by the assessee - ...

Income Tax

March 18, 2024

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