ITAT Remands Capital Gains Case as AO Failed to Refer Valuation to DVO

Abdush Salam Vs ITO (ITAT Kolkata) The appeal was filed by the assessee against the order of the National Faceless Appeal Centre (NFAC) for Assessment Year 2018-19 relating to the computation of long-term capital gains on the sale of immovable property. The assessee, an individual, filed his return declaring total income of ₹19,31,990. During the relevant year, he sold 26.562 dismil (8 katha 10 dhur) of land and disclosed long-term capital gain of ₹13,36,565 by adopting a sale consideration of ₹14,00,000 and indexed cost of acquisition of ₹63,435. During scrutiny assessment, the Assess...