Dismissing the appeal of the revenue the Tribunal held that , When the assessee is protesting the valuation by Stamp authority and requesting the refer to Department volition Officer , the AO is bound to make the reference to Department Valuation Officer .Deletion of addition was held to be justified .( AY. 2011-12)
ITO v. Estate of Maharaja Karni Singh Bikaner ( 2018) 64 ITR 21 / 166 DTR 29/ 193 TTJ 451( Jodhpur) (Trib)
S.50C: Capital gains – Full value of consideration – Stamp valuation- When the assessee is protesting the valuation by Stamp authority and requesting the refer to Department volition Officer , the AO is bound to make the reference to Department Valuation Officer , accordingly the deletion of addition was held to be justified . [ S.45 ]