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2014 (10) TMI 542 - HC - Income TaxMaintainability of writ petition - AO rejected the request of assessee to refer the matter to DVO u/s 50C - alternative remedy - Held that:- As the purchaser, which was a Government concern, has not taken any steps u/s 47A of the Indian Stamp Act and therefore the only remedy for the assessee was u/s 50C of the Act - As regards the availability of the alternative remedy, the matter was pending before the valuation officer which had been referred by the assessing officer and without waiting for the valuation report, the assessment was completed and therefore the availability of alternative remedy would not be a bar for the court to exercise its jurisdiction under Section 226 of the Constitution of India – relying upon S.Muthuraja v. Commissioner of Income Tax [2013 (8) TMI 40 - MADRAS HIGH COURT] - the assessee was the vendor of the property and the only right available to the assessee was u/s 50C(2). Valuation of property – Held that:- The AO was justified in considering the case along with other issues and passing the order of assessment - The only remedy left to the petitioner is to file an appeal before the Commissioner of Income Tax (Appeals III) under Section 246 of the Act – the order is upheld – Decided against revenue.
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