{"id":62110,"date":"2026-07-16T10:43:15","date_gmt":"2026-07-16T05:13:15","guid":{"rendered":"https:\/\/itatonline.org\/digest\/late-padmaben-zinabhai-trivedi-v-ito-guj-hc-www-itatonline-org\/"},"modified":"2026-07-16T10:43:15","modified_gmt":"2026-07-16T05:13:15","slug":"late-padmaben-zinabhai-trivedi-v-ito-guj-hc-www-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/late-padmaben-zinabhai-trivedi-v-ito-guj-hc-www-itatonline-org\/","title":{"rendered":"Late Padmaben Zinabhai Trivedi v. ITO (Guj.)(HC) www.itatonline.org"},"content":{"rendered":"<p style=\"font-weight: 400\">The assessee, while computing long-term capital gains on sale of land, adopted the fair market value as on 1-4-1981 on the basis of a registered valuer&#8217;s report at \u20b981 per sq. metre. The Assessing Officer reopened the assessment after four years by adopting the value at \u20b91 per sq. metre on the basis of sale instances obtained from the Sub-Registrar and sought to invoke section 55A. The Gujarat High Court held that, for the relevant assessment year, the unamended provisions of section 55A(a) governed the case, under which a reference to the Valuation Officer could be made only where the value claimed by the assessee was <strong data-start=\"1076\" data-end=\"1089\">less than<\/strong> its fair market value. Since the assessee had adopted a value higher than that determined by the Assessing Officer, section 55A(a) could not be invoked. The amendment made by the Finance Act, 2012, substituting the expression &#8220;is less than its fair market value&#8221; with &#8220;is at variance with its fair market value&#8221; is prospective with effect from 1-7-2012 and has no retrospective application. Consequently, the reopening based on such erroneous application of section 55A was without jurisdiction, and the notice issued under section 148 was quashed. The Court left open the question regarding the validity of a notice issued in the name of a deceased person. (AY. 2010-11.) \u00a0(SCA No. 19363 of 2017 dt . 8 -7 -2026 ) \u00a0<\/p>\n<p style=\"font-weight: 400\">\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.147: Reassessment \u2013 After the expiry of four years &#8211;  Reference to DVO \u2013 Fair Market Value as on 1-4-1981 \u2013 Amendment to section 55A(a) prospective \u2013 Reassessment invalid- The Court left open the question regarding the validity of a notice issued in the name of a deceased person.   [S. 45, 48, 55A,  148, Art . 226 ]  <\/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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-62110","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-g9M","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/62110","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=62110"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/62110\/revisions"}],"predecessor-version":[{"id":62111,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/62110\/revisions\/62111"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=62110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=62110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=62110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}