{"id":15466,"date":"2021-03-03T12:25:55","date_gmt":"2021-03-03T06:55:55","guid":{"rendered":"https:\/\/itatonline.org\/digest\/ranchodbhai-c-patel-v-ito-2021-123-taxmmann-com-215-surat-trib\/"},"modified":"2021-04-25T18:43:39","modified_gmt":"2021-04-25T13:13:39","slug":"ranchodbhai-c-patel-v-ito-2021-123-taxmmann-com-215-surat-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/ranchodbhai-c-patel-v-ito-2021-123-taxmmann-com-215-surat-trib\/","title":{"rendered":"Ranchodbhai C.Patel v.ITO ( 2021) 186 ITD 523\/ 123 taxmmann.com 215 ( Surat ) (Trib)"},"content":{"rendered":"<p>Allowing the appeal of the assessee the Tribunal held that amendment to section 55A by Finance Act , 2002\u00a0 w.e.f 1-7 -2012 , power to make reference to DVO if value\u00a0 adopted by the assessee \u00a0as on 1 -4 -1981 is less than FMV operates prospectively .The year under consideration is Assessment year 2011-12 hence the provision is not applicable . Relied on CIT v. Puja Prints ( 2014) 224 Taxman 22 ( Bom) (HC) , CIT v. Gauranginiben S. Shodhan Indl (2014) 224 Taxman 233 ( Guj) (HC) \u00a0( ITA No. 821 \/822 \/Ahd \/2016 dt 27 -11-2020) ( AY. 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 55A : Capital gains &#8211; Reference to valuation officer \u2013 Finance Act, 2012 , w.e.f 1-7 2012 \u2013Value as on 1 -4-1981 &#8211; Less than fair market value \u2013 Operates prospectively [ S.45 ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-15466","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-41s","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=15466"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15466\/revisions"}],"predecessor-version":[{"id":17265,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15466\/revisions\/17265"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=15466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=15466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=15466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}