The assessee purchased the flats for Rs 60  lakhs  as per the agreement dt. 6^th  Feb, 2013. The valuation fixed by the stamp authority was Rs. 80,812,150. The Fair market value of the flats was much less than Rs. 67, 57,600 by relying on the estimate of a registered valuer. The Assessing Officer agreed with the estimate of registered valuer. PCIT  passed the order  directing the Assessing Officer to frame  a fresh assessment and call for valuation from the competent authority as mentioned under section 55(2) of the Act in relation to the  deed of sale agreement and conveyance. On appeal the Tribunal held that Assessment order was not erroneous  for not referring the valuation of flats to the DVO by referring to cl.(b) of section 55(2)(vii) as sub-cl.(ii)) thereof was not in existence in the year 2013 when the transfer of flats took place. (AY. 2015-16)