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Assessee Gets Relief as Section 55A Amendment Was Prospective, Not Retrospective
Case Law Details
- Case Name
- Mukeshbhai Ramubhai Ahir Vs ITO (ITAT Surat)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Surat
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Mukeshbhai Ramubhai Ahir Vs ITO (ITAT Surat)
The appeal before the Income Tax Appellate Tribunal (ITAT), Surat, arose from an order of the Commissioner of Income Tax (Appeals)-2, Surat, for Assessment Year 2012-13. The assessee challenged the adoption of the fair market value (FMV) of land as on 01.04.1981 based on the Departmental Valuation Officer’s (DVO) report instead of the valuation provided by a Government-approved valuer. The assessee also challenged the non-admission of additional valuation evidence by the CIT(A).
At the outset, the assessee did not press the ground relating to the ...
