Section 50C Addition Set Aside Because AO Failed to Obtain Proper Property Valuation

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 appeal ought not to b...