Section 50C(2) shall be invoked if adoption of stamp duty valuation is objected

Aavishkar Film Pvt. Ltd. Vs ITO (ITAT Mumbai)

Conclusion:Where the assessee objects to the adoption of stamp duty valuation as deemed sale consideration during the assessment proceedings, the Assessing Officer is duty bound to make a reference to the DVO.

Held: In present facts of the case the assessee filed its return Rs. 12,94,930/-. The AO during assessment

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