ITAT Ahmedabad directs AO to mandatorily refer to DVO when stamp duty value is disputed – Addition u/s 50C set aside

Bhupendrabhai Bhikhalal Patel Vs ITO (ITAT Ahmedabad)

Assessee sold agricultural land for ₹10,00,000. However, the Sub-Registrar adopted jantri value of ₹29,65,802 for stamp duty purposes.  AO reopened the assessment & applied u/s 50C, taking stamp duty value as full consideration &  computed STCG of ₹24,53,638. Further, ₹1,75,000 commission income was also added as income from other sources since Assessee did not report it in the return filed in response to notice u/s 148.

Before CIT(A),  Assessee did not file any evidence or submissions. Hence, CIT(A) up

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