Held, that the Assessing Officer had adopted a total sale consideration higher than that determined by the District Valuation Officer. The assessee brought the report of the District Valuation Officer to the notice of the Commissioner (Appeals), which submission was noticed by the Commissioner (Appeals). However, the Commissioner (Appeals) failed to take cognisance of this report. Considering that the reference to the District Valuation Officer was made during the pendency of the assessment proceedings, the Commissioner (Appeals) failed in his duty to follow the correct procedure required for the disposal of the appeal. (AY. 2014-15)
Puran Pradhan v. ITO (2023)101 ITR 266 (Kol.)(Trib.)
S. 50C : Capital gains-Full value of consideration-Stamp valuation-Reference to D.V.O.-Value in report of D.V.O. lower-Report submitted after assessment order-CIT(A) ought to have considered the value of the report. [S. 45, 48]