Title Defects u/s 50C(2) of Income Tax Act: ITAT upholds CIT(A) Decision to Refer LTCG Valuation to DVO [Read Order]
If an assessee disputes the stamp duty value, the AO must refer the case to the DVO under Section 50C(2) of the act and use the DVO’s lower valuation if applicable
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the Commissioner Of Income Tax (Appeals)[CIT(A)]’s decision to refer Long Term Capital Gain ( LTCG ) valuation to the Departmental Valuation Officer( DVO ), citing title defects and disputes over stamp duty valuation as reasons for the referral under Section 50C(2) of Income…
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