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2020 (12) TMI 1146 - ITAT AHMEDABADLong term capital gain arising on the sale of land u/s. 50C - CIT(A) has dismissed the appeal of the assessee stating that there was no categorical request made by the assessee before the Assessing Officer that the valuation may be referred to the departmental valuation officer - HELD THAT:- We consider that the assessee has categorically brought to the notice of the Assessing Officer that the value adopted by the stamp valuation authority in his case exceed the fair market value of the property as on the date of transfer because the circumstances cited as supra in this order. Therefore, we consider that to verify the facts reported by the assessee, the Assessing Officer could have referred the issue for valuation of the sold capital asset to a Departmental Valuation Officer under the provision of section 50C(2) We restore this case to the file of the Assessing Officer for deciding the issue of long term capital gain earned on sale of the impugned land afresh after referring the matter to the departmental valuation officer. Therefore, this appeal of the assessee is allowed for statistical purposes.
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