AROON BHATIA,GHULADIYA BHINDARA THANA NEORIA MAJHOLA PILIBHIT vs. CIT(A), OPP PRBHA TALKIES

ITA 186/LKW/2026Status: DisposedITAT Lucknow18 September 2026AY 2011-20125 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal condoned the delay, finding sufficient cause. It held that the AO erred in invoking Section 50C without referring the matter to the DVO when the stamp duty valuation was disputed. The matter was remanded for fresh verification of the fair market value and treatment of the co-owner.

What were the facts?

The assessee's appeal was filed with a significant delay. The core issue involved the Assessing Officer (AO) invoking Section 50C for addition to capital gains without referring the stamp duty valuation to the Departmental Valuation Officer (DVO). The assessee claimed the stamp duty valuation did not represent the fair market value.

What were the issues?

Whether the AO can invoke Section 50C without referring the disputed stamp duty valuation to the DVO. Whether the addition made under Section 50C is sustainable without proper verification of the fair market value.

Which sections of the Income-tax Act were involved?

Section 50C,Section 50C(2),Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, LUCKNOW BENCH “SMC”, LUCKNOW

Before: SHRI KUL BHARAT

For Appellant: Shri Rahul Agarwal, Advocate
For Respondent: Shri Sudhakar Shukla, Sr. CIT(DR)

PER KUL BHARAT, VICE PRESIDENT.:

This appeal, by the assessee, is directed against the order of the Learned Commissioner of Income-tax (Appeals)/National Faceless Appeal Centre (NFAC), Delhi dated 02.09.2024, pertaining to the assessment year 2011-12. The assessee has raised the following grounds of appeal: - “1. That the assessment made by the Ld. A. O. without referring the matter to DVO wrong and decision passed by Ld. A.O which was further supported by Ld. CIT Appeal is unjust to the appellant.

2.

The Ld. A.O erred in making the addition of Rs. 18,91,000/- made by invoking provisions of section 50C without properly appreciating facts and

The order continues below.

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