Adoption of stamp duty valuation u/s 50C without making reference to DVO unsustainable

Ranjita Rangnath Mhatre Vs ITO (ITAT Mumbai) ITAT Mumbai held that adoption of stamp duty valuation invoking provisions of section 50C of the Income Tax Act without making reference to District Valuation Officer (DVO) unsustainable. Accordingly, matter remanded for de novo proceedings. Facts- The assessee is an individual and is a housewife dependant on her son. During the year under consideration the assessee relinquished her share of 14,28% in the hereditary rights in a land inherited from her father in favour of her brother Shri Anil Krishna Kawale in lieu of which she received a sum of Rs....