Reference to DVO for correct fair market value mandatory if requested by assessee

Ramdoss Ramvijay Kumar Vs ITO (ITAT Mumbai)

ITAT Mumbai held that even after request from assessee to refer DVO for correct fair market value of the subject property, AO was duty-bound to refer the same to DVO. Accordingly, matter remanded back with a direction to refer the matter to DVO and decide the issue.

Facts- The case of the assessee has been subsequently re-opened u/s. 147 of the Income-tax Act, 1961 for the reasons recorded, as per which income chargeable to tax h

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