Failure to refer matter to Departmental Valuation Officers for Assessing Fair Market Value of Land Property: ITAT Partly allows Appeal [Read Order]

The ITAT observed that the lower authorities ought to have referred the matter to the DVO for valuing the fair market value of the land
ITAT - ITAT Kolkata - Income Tax - Assessing Officer - taxscan

The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) has directed readjucation on the concerned grounds due to the lower authority’s failure to refer the matter to the Departmental Valuation Officers ( DVO ) for assessing the fair market value of the land property. The appeal stemmed from the addition of Rs….

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