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2018 (6) TMI 268 - ITAT JODHPURApplicability of section 50C - Reference of matter to DVO - whether the word "may" really provides discretion to the Assessing Officer even when the assessee has protested the valuation for stamp duty purpose? - Held that:- In sum and substance the matter under section 50C is the part of the head "Income from capital gains" and therefore the preliminary objection raised by the assessee is rejected. Request or objection of the assessee against the value adopted by the stamp valuation authority by the Assessing Officer is against the spirit of section 50C of the Act. It is not optional for the Assessing Officer to make reference to DVO and the right of the assessee under section 50C is a statutory right. In the circumstances and facts of the case we find no infirmity in the order of the learned Commissioner of Income-tax (Appeals) that the Assessing Officer should have considered the objections raised by the assessee against the same and should have referred the matter to the DVO under sub-section (2) of section 50C of the Act
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