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2016 (5) TMI 90 - AT - Income TaxComputing capital gain - Determination of value u/s 50C without referring the matter to the Departmental Valuation Officer (DVO) - Held that:- From the order of the learned Assessing Officer it is apparent that the AO has not referred the matter to the learned Departmental Valuation Officer for valuing the property as per section 50C(2) of the Act. The assessee had submitted before the learned Assessing Officer regarding the litigation involved in the title of the property which was not considered by the learned Assessing Officer. When the assessee had challenged the value determined by the learned Assessing Officer citing the various reasons it was the primary duty of the learned Assessing Officer to refer the matter to the learned Departmental Valuation Officer for valuation of the immovable property. Commissioner of Income-tax (Appeals) has also simply brushed aside the contention of the assessee by stating in his order that at the time of assessment proceedings the assessee has not requested the learned Assessing Officer to refer the matter to the learned Departmental Valuation Officer. Considering the facts and circumstances of the case, we are of the considered view that in the interest of justice the matter has to be referred back to the file of the learned Assessing Officer with a direction to refer the matter to the learned Departmental Valuation Officer and thereafter pass an appropriate order as per law and merit after affording sufficient opportunity to the assessee of being heard.
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