Assessment Quashed for Being Passed Without Awaiting DVO Report—Violation of Section 50C(2)

Rajni Arvind Birla Vs ITO (ITAT Ahmedabad) Provisional Assessment Invalid—Tribunal Strikes Down 143(3) & 154 Orders Passed Before DVO Valuation- 50C(2) Right Violated—Rectification Using Later DVO Report Impermissible; Entire Assessment Quashed; Order Invalid as AO Finalized Assessment “Subject to Rectification”—Act Does Not Permit Provisional 143(3) Orders; Rectification Under Section 154 Cannot Rely on Later DVO Report—Fresh Material Not Part of Record; Premature Assessment Violates Assessee’s Statutory Right Under Section 50C(2)—Natural Justice Breached; AO Ignored Statu...