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2013 (9) TMI 987 - ITAT MUMBAIStamp Valuation u/s 50C - invocation of the powers under section 155(15) - Substitution of the stamp valuation authority's valuation by the Valuation Officer's - Held that:- It is evident that the provisions section 155(15) is invoked only in cases of situations covered by section 50C(2)(b) of the Act. The above clause (b) of section 50C(2) of the Act refers to the values adopted or assessed by the stamp valuation authorities, which have not been disputed in any appeal or revision or no reference has been made before any authority, court or the High Court. The said provision does not cover a situation of the present appeal where a reference was made under section 55A to the Departmental Valuation Officer. There is a difference between the dispute on the value of stamp valuation authorities and the value of the Departmental Valuation Officer. Thus, the Departmental Valuation Officer's value is outside the scope of section 155(15) of the Act. Therefore, the provisions of section 155(15) were wrongly invoked by the Assessing Officer for giving effect to the findings of the report by the Valuation Officer. - Decided against Revenue.
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