Tuesday, 5 August 2014

AO had to refer matter to Valuation Officer if assessee claimed that stamp value exceeded market val

IT : Where according to assessee, agreed consideration as per conveyance deed was highest prevailing market price of property, it would follow that assessee disputed higher valuation made by Stamp valuation authority and in such case, Assessing Officer should have referred matter to a Valuation Officer as contemplated under section 50C


No comments:

Post a Comment