Allowing the appeal of the assessee the Tribunal held that in the present case , the valuation as on the date of registration has been determined without referring the matter before DVO for valuation which is not justified. Tribunal also held that , power of Attorney holder does not became the owner of property on signing the sale deed in the capacity as constituted attorney . Accordingly the addition was deleted. (ITA No. 64/Ahd/ 2018 dt .22-7 -2020) (AY. 2011-12)
Ramesh Govindbhai Patel v .ITO ( 2020) 118 taxman. com 201 ( Ahd) (Trib)
S. 50C : Capital gains – Full value of consideration – Stamp valuation – Addition cannot be made without referring the matter to DVO- Power of Attorney holder does not became the owner of property on signing the sale deed in the capacity as constituted attorney [ S.45 ]