Jurisdiction of CIT(A) to make a reference to DVO to determine ...

Court Clarifies CIT(A) Can Refer to DVO for Property FMV u/s 55A if Conditions Are Met.

April 29, 2015

Case Laws Income Tax HC

Jurisdiction of CIT(A) to make a reference to DVO to determine the FMV of the property - The Revenue insists that the power is being exercised only under Section 250(4) alone - reference is invalid and set aside - However reference can be made u/s 55A subject to conditions stipulated therein - HC

View Source

← Previous Next →

Jurisdiction of CIT(A) to make a reference to DVO to determine ...

Court Clarifies CIT(A) Can Refer to DVO for Property FMV u/s 55A if Conditions Are Met.

April 29, 2015

Case Laws Income Tax HC

You may also like:

Computation of long term capital gains - reference to DVO - FMV declared by assessee as on 01.04.1981 - no reference can be made u/s 55A in order to value the cost of...

Taxability of long term capital gain on sale of immovable property - value u/s 50C - difference in value determined by the SVA and DVO - These facts clearly establish...

The Court held that imposing a condition of furnishing a bank guarantee while granting bail is illegal. The Apex Court, in Subhash Chouhan v. Union of India, ruled that...

Reference to DVO - Determination of cost of acquisition - if the value declared by an assessee on the strength of registered valuer’s report is more than the fair market...

Validity of Referring the matter to DVO - Additions based on valuation report - The High Court noted that the assessee had filed its return for the relevant assessment...

Referring to the DVO u/s 55A - conditions as enumerated in clause (a) of section 55A are also not satisfied in the present case as AO has not formed any opinion -...

Addition u/s 56(2)(vii) r.w.s. 69 - difference between the purchase price i.e. circle rate/stamp duty value and the value determined by the DVO - This section can be...

Valuation of the property - determining the fair market value (FMV) - Property which is otherwise residential as per the record cannot be treated as a commercial...

Validity of reference made to the Departmental Valuation Officer (DVO) u/s 55A - The provisions of Section 55A(b)(ii)can be invoked only in case the valuation report is...

The High Court held that rent income derived from letting out properties by the assessee should be treated as 'Income from Profits and Gains of Business' and not 'Income...

The High Court examined the validity of reopening assessments based on the report of the District Valuation Officer (DVO). It distinguished between "reason to believe"...

Indexed cost of acquisition disallowed based on DVO report u/s 142A. Assessee's valuer determined cost at Rs. 89,800 per sq. yard, DVO at Rs. 72,000 per sq. meter....

LTCG - valuation of the property to the DVO - Valuation report given by the DVO cannot be ignored. Since the DVO himself valued the property which is less than the value...

Capital gain on sale of land - FMV as on 1/4/1981 - AO has not given any evidence that how the FMV has been determined by him - AO may decide the whole issue either by...

Capital gain computation - determination of the FMV - it is apparent from the report of the Registered valuer that he does not have any authentic basis for the FMV of...

Quick Updates: