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2014 (2) TMI 1372 - ITAT KOLKATAComputation of capital gain - AO had referred the valuation of the property as on 1-4-1981 to the DVO by invoking the provisions of section 55A - HELD THAT:- A perusal of the assessment order clearly shows that the conditions mentioned in section 55A of the Act have not been satisfied by the AO. Consequently, in view of the decision of the Hon’ble Jurisdictional Calcutta High Court in the case of Umedbhai International P. Ltd [2010 (2) TMI 631 - CALCUTTA HIGH COURT] as also case of Hiaben Jayantilal Shah [2008 (4) TMI 292 - GUJARAT HIGH COURT] we are of the view that the reference to the DVO by the AO is not sustainable in law. Consequently, the addition made by the AO and confirmed by the ld.CIT(A) on the basis of the DVO’s report stands deleted.
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