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2015 (4) TMI 475 - AT - Income TaxStamp duty valuation u/s.50C - difference in the value of the property declared by the assessee as sale consideration and adopted by the stamp valuation authority - Held that:- AO has made addition on the basis of the difference in the value of the property declared by the assessee as sale consideration and adopted by the stamp valuation authority - in view of the provisions of section 50C(2) of the Act, we are of the considered view that the AO was not justified in adopting the value of the property as adopted by the “stamp valuation authority” without referring to the DVO for ascertaining the fair market value of the property. Therefore, the orders of the authorities below on this issue are hereby set aside and the additional ground raised by the assessee is restored back to the file of AO to decide the same in accordance with law - Matter remanded back - Decided in favour of assessee.
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