Reference to DVO is mandatory for invoking Section 50C (2 )

Amarshiv Construction Pvt. Ltd. Vs. DCIT (ITAT Ahmedabad) There is no dispute from the above narrated facts and circumstances that both the lower authorities have gone by the reduced jantri price for the purpose of invoking Section 50C of the Act so as to make the impugned long term capital gains addition. The CIT(A) particularly is of the opinion that the above reduced jantri price in Stamp Act Appellate proceedings coming to Rs. 95,73,102/- is just and proper. We however see no reason to concur with the above extracted findings as the impugned addition u/s.50C(2) of the Act mandates referenc...