SHIVLAL GANDUBHAI SATODIA, PORBANDAR,PORBANDAR vs. INCOME TAX OFFICER, WARD - 2(3), PORBANDAR, PORBANDAR

ITA 211/RJT/2025Status: DisposedITAT Rajkot21 September 2026AY 2016-175 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal restored the issue to the Assessing Officer for fresh consideration. The Assessing Officer is to examine the DVO's valuation report in detail, consider the assessee's objections regarding market conditions and property location, and re-compute capital gains.

What were the facts?

The assessee sold an immovable property and declared capital gains based on the actual sale consideration. The Assessing Officer invoked Section 50C, deeming the sale consideration based on the stamp duty value, which was significantly higher. The CIT(A) had previously directed the Assessing Officer to re-compute capital gains considering the DVO's valuation report.

What were the issues?

Whether the stamp duty value or the actual sale consideration, or the DVO's valuation, should be adopted for computing capital gains on property sale. The assessee's objections to the DVO's valuation also form a key issue.

Which sections of the Income-tax Act were involved?

Section 50C,Section 147,Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “RAJKOT BENCH” , RAJKOT

Before: DR. B.R.R. KUMAR & SHRI SONJOY SARMA

For Appellant: Shri Vimal Desai, AR
For Respondent: Shri Gopi Nath Chaubey , Sr.DR
Hearing: 28.07.2026Pronounced: 21.09.2026

PER: DR. B.R.R. KUMAR, VICE PRESIDENT:

This appeal has been filed by the assessee against the order of the Ld. Commissioner of Income-Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi (hereinafter referred to as "CIT(A)" for short) dated 29.01.2025, passed u/s 250 of the Income-tax Act, 1961, (hereinafter referred to as "the Act" for short) for the Assessment Year (AY) 2016-17. Shivlal Gandubhai Satodia Vs. ITO Asst.Years : 2016-17 - 2–

2.

The assessee has raised the following grounds of appeal:

1.

The learned Assessing Officer has erred in law as well as on facts for invoking the provisions of Section 5

The order continues below.

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