ITAT Allows Appeal as DVO Reference Under Section 55A Was Invalid for AY 2010-11

Dipakkumar Someshwar Pandya Vs ITO (ITAT Ahmedabad) The assessee filed an appeal before the Income Tax Appellate Tribunal (ITAT), Ahmedabad, against the order of the Commissioner of Income Tax (Appeals)-5, Ahmedabad, for Assessment Year 2010-11. The dispute related to the computation of long-term capital gains arising from the sale of a one-third share in an immovable property situated at Saijpur Bogha, Ahmedabad. The assessee had sold the property through a sale deed dated 06.05.2009 for a consideration of ₹41,00,000 and had declared a long-term capital loss of ₹33,25,159 in the return of...