AO Must Refer to DVO Before Rejecting Registered Valuer’s Report – ₹9.24 Cr Addition Deleted

Jaswin Kaur Sethi Vs DCIT (ITAT Delhi) ITAT Delhi: AO Cannot Ignore Registered Valuer’s Report Without DVO Reference – Jaswin Kaur Sethi vs. DCIT Facts of the Case The assessee, a non-resident individual, jointly owned a residential-cum-commercial property in Diplomatic Enclave, New Delhi with her mother. Property sold in June 2018 for ₹25.91 crore; assessee’s 50% share ₹19.266 crore (adopted per section 50C stamp duty value). Cost of acquisition (01.04.2001) taken at ₹5.9873 crore based on a government-approved registered valuer’s report under section 55(2)(b). Capital gains ...