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2020 (6) TMI 289 - AT - Income TaxRectification application u/s 254 - assessee had deprived from raising objection regarding valuation made by DVO before the assessing officer and hence to be rectified - as directed AO to adopt the DVO`s valuation or Registered Stamp Valuation whichever is less, however in the said direction, the assessee had not been given an opportunity of raising objection regarding valuation made by DVO before the assessing officer - HELD THAT:- We note that AO was under a statutory obligation to serve notice of hearing to the DVO and assessee and afford them an opportunity of hearing but the AO has failed to do so, because this Tribunal has not given specific direction to AO while passing the order therefore it is a mistake apparent from record and should be rectified. Valuation report of the DVO is not the last word on valuation, it can be challenged by the assessee and for that we also rely on the judgment of Lovy Ranka Vs. DCIT [2019 (5) TMI 404 - ITAT AHMEDABAD] - we direct the Assessing Officer to examine the DVO valuation report afresh and the assessee is at liberty to challenge the DVO report if it seems to him inconsistent on law as well as on facts. Order being pronounced after ninety (90) days of hearing - COVID-19 pandemic and lockdown - HELD THAT:- Taking note of the extraordinary situation in the light of the COVID-19 pandemic and lockdown, the period of lockdown days need to be excluded. See case of DCIT vs. JSW Limited [2020 (5) TMI 359 - ITAT MUMBAI]
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