ITAT Remands Section 50C Issue to DVO Despite Rejecting Earlier Agreement Plea

Laljibhai Parshottambhai Gaudani Vs DCIT (ITAT Ahmedabad) Section 50C Dispute Remanded to DVO — Earlier Agreement Claim Rejected but FMV Examination Directed The Ahmedabad Bench of the Income Tax Appellate Tribunal partly accepted the assessee’s appeal and remanded the matter relating to section 50C addition for fresh determination by the Assessing Officer after obtaining a valuation report from the DVO. The assessee, a senior citizen, faced a delay of 180 days in filing the appeal, which was condoned by the Tribunal considering serious medical issues of the assessee and his spouse. On mer...