The assessee  claimed  the receipt of three properties in the year 1990 from his father through an affidavit issued by self in that year, which was sought to be corroborated by an affidavit of his father issued in the year 1994. Sale deed dt. 7th Dec., 2010 that the assessee has signed it as one of the five co-owners and not as a ‘consenting party’. There is no reference in the registered sale deed to the alleged transfer of the three properties in favour of the assessee in lieu of his giving up share in the property in question. The contention of the asssessee that  he  was not a co-owner of the property in question at the time of execution of the registered sale deed in 2010  was not accepted.  The fact that the assessee signed the registered sale deed as a co-owner and not as a consenting party and there is no legal document demonstrating the assessee giving up his share in the property in question in lieu of some other properties, the contention of the Authorised Representative that the assessee was not a co-owner of the property in question at the time of execution of the registered sale deed in 2010  was not accepted.  Transfer of the property took place only on the execution of the registered sale deed in the year 2010 relevant to the assessment year under consideration and not in the year 2001 when the unregistered agreement to sell was executed. AO has not made any reference to the DVO as per the requirement of S. 50C(2) of the Act. Thee matter is remanded to the file of the Assessing Officer for redeciding the issue afresh as per law. (AY.2011-12)