Dispute in stamp value may be referred to the valuation officer

Bhausaheb Sopanrao Bhoir Vs ITO (ITAT Pune) ITAT Pune held that as per third proviso to section 56(2)(vii)(b), where the stamp value of the immovable property is disputed by the assessee on the ground mentioned in section 50C(2), the AO may refer the valuation of such property to the Valuation Officer. Accordingly, matter remanded. Facts- The case of the assessee was selected on the basis of AIR information about the assessee having made large investment in property as compared to total income. AO observed from the AIR information that the assessee, along with other co-owners, entered into a d...