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ITAT Dismisses Revenue's Appeal, Sides With Assessee in Time-Barred 153C Assessment Case [Read Order]

Adwaid M S

The Income Tax Appellate Tribunal (ITAT) Delhi bench has quashed a Rs.13.12 crore tax assessment against Delhi-based Dharampal Premchand Ltd, ruling...

DVO Valuation Exceeding Stamp Duty Value: ITAT Upholds Addition Based on DVO’s Report [Read Order]

ITAT Confirms 25% Deduction in DLC Rate on Account of Passing of IOCL Pipeline in Middle Part of...

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

Fair Market Value determined by Registered valuers for Computation of Taxable value should not be...

ITAT quashes Assessment Order passed in Violation of Time Limit u/s 153(1) [Read Order]

A Division Bench of the Income Tax Appellate Tribunal (ITAT), Ahmedabad quashed assessment order passed in violation of time limit under Section 153(1) of the Income Tax Act, 1961. The assessee,...

ITAT remands back matter to consider pending DVO Report to calculate income from Sale of Land [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Kolkata Bench remanded back matter to consider pending District Valuation Officer (DVO) Report to calculate income from sale of land. The assessee, M/s....

Absence to take note of Judicial Pronouncements in DVO Report: ITAT deletes Income Tax Addition [Read Order]

The Income Tax Appellate Tribunal (ITAT), deleted income tax addition as there was absence to take note of judicial pronouncements in District Valuation Officer (DVO) Report. During the year under...

Addition made under LTCG: ITAT directs De Novo Adjudication for Non-Consideration of Report by DVO [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench Addition directs de novo adjudication for non-consideration of report by Department Valuation Officer (DVO) in respect of addition made under...

Rejection of Books of Account is a precondition for making reference to DVO: ITAT holds DVO report illegal [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore held that, the report of the District Valuation Officer (DVO) was illegal on the ground that rejection of books of account is a precondition for...

Reference of Matter by AO to DVO for valuation of Property is Not Mandatory: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Delhi bench has held that the reference of the matter by the Assessing Officer to DVO for valuation of the property is not mandatory under section 50C of...

DVO Report Vital for Determination of Full Value of Consideration u/s 50C: ITAT [Read Order]

In Anuj Kumar Goswami vs ITO, the Agra Bench of Income Tax Appellate Tribunal ( ITAT ) held that Departmental Valuation Officer(DVO)’s valuation takes precedence over Stamp Valuation Authority’s...