AO cannot refer to DVO u/s 55 when valuation made by the registered valuer was on higher side

Brief of the case: Revenue challenged the order passed by ITAT majorly on three grounds. Firstly, on ground of adopting value of property as per the value provided by registered valuer instead of value adopted by AO on the basis of report of DVO. Secondly, in applying cost inflation index with effect from 01.04.1981 instead of 1999-2000 in which assessee inherited property. Thirdly, on helding rental income as income from other sources instead of income from property. After examining the facts and circumstances considered by ITAT Hon’ble HC dismissed the appeal. Facts of the case: The asses...