Adoption of lower FMV based on DVO report unjustified as specific feature of property not considered

Madhurittu Puri United Kingdom Vs DCIT (ITAT Delhi) ITAT Delhi held that there is no justification of adopting lower Fair Market Value (FMV) merely on the basis of DVO report as DVO has failed to consider the specific features of the property commanding higher value. Facts- The assessee a non resident individual filed her return for A.Y. 2019-20. Her case was selected for scrutiny under CASS. During assessment proceedings, AO found that the assessee had sold a residential property and had shown a sale consideration of Rs. 18 crore. The property was inherited and its valuation was carried out ...