Case Law Details
Sathyamurthy Giridaran Vs Assessment Unit (Madras High Court)
In the case of Sathyamurthy Giridaran vs. Assessment Unit, the Madras High Court addressed a writ petition challenging an assessment order dated 18.03.2024. The petitioner contested a variation confirmed in the assessment concerning the disparity between the sale consideration for an immovable property and the guideline value, as specified in the relevant conveyance deed.
The impugned assessment order was issued after reopening the assessment for the petitioner’s assessment year 2015-2016.
Learned senior counsel for the petitioner referred to the assessment order and highlighted that it mentioned awaiting the valuation from the District Valuation Officer (DVO) and stated that the assessment order was subject to rectification upon receipt of the DVO’s valuation report. The petitioner’s counsel provided the court with the order dated 12.04.2024 issued by the Assistant Valuation Officer-II, Income Tax Department, along with the rectification application dated 16.04.2024.
The learned junior standing counsel representing the respondents accepted notice and agreed that, since the valuation report was available, the matter should be remanded for consideration of the valuation report and the rectification application.
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