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2023 (3) TMI 979 - AT - Income TaxCapital gain computation - stamp duty valuation adopted by authorities - value adopted by government authorities for levy of stamp duty on transfer of land - AO made additions by invoking provisions of Section 50C - HELD THAT:- The assessee has filed two comparable of sale deeds which are claimed to be in vicinity and within the same time period when assessee sold his land, which requires verification by the authorities below . Since the assessee is disputing the value adopted by government authorities for levy of stamp duty on transfer of land, Section 50C(2) shall come into play and the matter may be required to be referred to DVO as is provided u/s 50C(2). The orders of the authorities below are set aside and the matter is restored to the file of the AO for framing denovo assessment on merit in accordance with law, after giving opportunity of being heard to the assessee. The appeal of the assessee is allowed for statistical purposes.
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