Valuation of Disputed Property for Stamp Value: ITAT Directs AO to Refer DVO [Read Order]

Stamp value- ITAT- Property -valuation- disputed property- Valuation of Disputed Property- AO-DVO- AO to Refer DVO-taxscan

The Pune Bench of Income Tax Appeal Appellate Tribunal (ITAT) held that where the stamp value of the immovable property is disputed by the assessee  and where the assessee asserts that the stamp value is excessive on the ground mentioned in Section 50C(2) of Income Tax Act,1961, the Assessing Officer (AO) may refer the valuation…

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