Matter Remanded – Reason: CIT(A) Abdicated Jurisdiction by Merely Endorsing DVO’s Report

Vijay Shambhulal Jobanputra Vs ACIT (ITAT Mumbai) CIT(A) cannot abdicate its jurisdiction nor can it dispose of substantive objections by a mere endorsement of the DVO’s report without independent application of mind. ITAT Mumbai Sets Aside NFAC Order for Non-Compliance of Earlier Directions; Remands DVO Valuation Dispute for Fresh Speaking Order With Full Opportunity The assessee, a senior citizen, challenged the NFAC’s order upholding the DVO’s valuation of his Koregaon Park, Pune property as on 01.04.1981 for capital gains computation. The AO had rejected the assessee’s registered ...