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2017 (6) TMI 177 - AT - Income TaxAssessing Officer's power to refer the matter of valuation to the DVO for the valuation of fair market value as on 01.04.1981 - Held that:- This matter controversy has already came before the ITAT in the Assessee’s own case for the AY.2008-09. It is noticed that it is not a matter to curtail the power of the AO but it is necessary for the AO to arrive at conclusion that the value of the property declared by the Assessee is less than the fair market value. When there is no reason to forward the matter to the DVO then forwarding the matter does not itself justifiable. The CIT(A) has passed the order on the basis of the finding of the ITAT in the Assesse’s own case. We found nothing material to deviate the finding of the CIT(A) on this issue therefore, in the said circumstances we are of the view, that the CIT(A) has passed the order judiciously and correctly which is not required to interfere with at this appellate stage. Accordingly, this issue is being decided in favour of the Assessee.
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