Failure to seek DVO Report vitiates 50C addition- ITAT Remands Case to AO

Shashikant Damodar Patil Vs ITO (ITAT Mumbai)

AO duty-bound to refer valuation dispute to DVO u/s 50C(2)- Failure to seek DVO Report vitiates 50C addition- ITAT Remands Case to AO

In Shashikant Damodar Patil v. ITO,  the Mumbai   ITAT set aside a long-term capital gains addition made u/s, holding that AO was duty-bound to refer the matter to  DVO when the assessee disputed the stamp duty valuation.

Assessee had sold inherited land for ₹50 lakh pursuant to an agreement to sell originally executed by his father

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