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Capital Gains Relief Granted as Section 55A Amendment Was Prospective: ITAT Surat

June 5, 2026 129 Views 0 comment Print

The Tribunal held that the Assessing Officer could not validly refer the valuation issue to the DVO for Assessment Year 2012-13. Since the statutory conditions were not met, the long-term capital gains addition was deleted.

ITAT Deletes LTCG Addition as DVO Reference Under Section 55A Was Invalid

June 5, 2026 111 Views 0 comment Print

ITAT Surat held that the Assessing Officer could not refer the property valuation to the DVO where the assessee had adopted a higher value based on a registered valuer’s report. The LTCG addition based on the DVO report was deleted.

ITAT Deletes LTCG Addition as DVO Reference Was Invalid for Pre-July 2012 Transaction

June 5, 2026 114 Views 0 comment Print

The Tribunal held that a land sale completed before 01.07.2012 could not be subjected to a DVO reference under the amended Section 55A. Since the valuation reference was invalid, the long-term capital gains addition was deleted.

ITAT Allows Appeal as DVO Reference Was Invalid Under Pre-2012 Section 55A

June 5, 2026 78 Views 0 comment Print

The Tribunal held that the Assessing Officer could not validly refer the property valuation to the DVO for Assessment Year 2012-13 under the unamended Section 55A. Since the valuation reference lacked legal authority, the addition to long-term capital gains could not be sustained.

Assessee Gets Relief as Section 55A Amendment Was Prospective, Not Retrospective

June 5, 2026 84 Views 0 comment Print

The Tribunal held that the amended Section 55A could not be applied to a land sale completed before 01.07.2012. Since the DVO reference was not valid under the law then in force, the capital gains addition based on that valuation could not stand.

Registered Valuer’s Report Prevails as DVO Reference Failed Legal Requirements

June 5, 2026 126 Views 0 comment Print

The Tribunal held that the amendment to Section 55A applies prospectively and could not be used for land transactions completed before 01.07.2012. As the assessee had relied on a registered valuers higher valuation, the DVO reference was declared invalid and the appeal was allowed.

ITAT Allows Registered Valuer’s Valuation as Section 55A DVO Reference Was Invalid

June 5, 2026 132 Views 0 comment Print

The Tribunal held that the Assessing Officer could not validly refer the matter to the DVO for a transaction completed before the 2012 amendment to Section 55A. Capital gains were directed to be recomputed using the registered valuers report.

ITAT Deletes Capital Gains Addition as Section 55A DVO Reference Was Invalid

June 5, 2026 123 Views 0 comment Print

The Tribunal held that for AY 2011-12, the Assessing Officer could not refer property valuation to the DVO when the assessee relied on a registered valuers higher FMV. The capital gains computation based on the DVOs valuation was therefore set aside.

DVO Valuation Rejected as Assessee’s Registered Valuer Had Reported Higher FMV

June 5, 2026 117 Views 0 comment Print

The Tribunal held that for Assessment Year 2010-11, a reference to the DVO was impermissible where the assessee’s declared value exceeded the department’s estimate. The resulting capital gains addition was therefore deleted.

Reopening of Assessment Invalid as DVO Valuation Was Lower Than Assessee’s Declared Value

June 5, 2026 111 Views 0 comment Print

The Court held that the Assessing Officer could not refer the matter to the Valuation Officer under Section 55A where the assessees registered valuer had reported a higher value. The reassessment based on such reference was therefore held impermissible.

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