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Section 50C Addition Set Aside Because AO Failed to Obtain Proper Property Valuation
Case Law Details
- Case Name
- Dosjibhai Chellabhai Patel Vs CIT (Appeals) (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Mumbai
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Dosjibhai Chellabhai Patel Vs CIT (Appeals) (ITAT Mumbai)
50C Addition Set Aside: ITAT Condoned Delay & Sent Property Valuation Issue Back for Fresh DVO Reference
Assessee’s appeal before CIT(A) was dismissed on limitation without adjudicating merits, while AO had passed a best-judgment order u/s 144 invoking section 50C by taxing ₹31.62 lakh as difference between stamp duty value & declared consideration in respect of two property transactions.
Tribunal condoned delay, noting senior-citizen status, health issues & Covid period constraints, & held that appe...
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