BABU RAM,BAREILLY vs. ITO-1(1), BAREILLY

ITA 336/LKW/2026Status: DisposedITAT Lucknow01 June 2026AY 2017-184 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal restored the issue of property valuation back to the CIT(A) for fresh consideration. The CIT(A) is directed to consider the assessee's objections regarding the DVO's valuation methodology and provide valid reasons for any variation.

What were the facts?

The assessee declared sale consideration for two land parcels, but the Assessing Officer invoked Section 50C and adopted the DVO's higher valuation for computing short-term capital gains. The CIT(A) upheld the Assessing Officer's action.

What were the issues?

Whether the DVO's valuation under Section 50C was made adhering to prescribed guidelines and whether the assessee's objections were properly considered by the authorities.

Which sections of the Income-tax Act were involved?

Section 50C,Section 143(3),Section 144A,Section 270A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, LUCKNOW BENCH ‘SMC’, LUCKNOW

Before: SHRI ANADEE NATH MISSHRA

For Appellant: Shri Rakesh Garg, Advocate

PER ANADEE NATH MISSHRA:A.M.

(A) This appeal has been filed by the assessee against the impugned appellate order of learned CIT(A) / Addl/JCIT(A)-1, Jaipur, dated 30.01.2026, for the AY 2017-18. The assessee has raised the following grounds of appeal:

“1. BECAUSE the Id. CIT(A) erred in law and on facts in confirming the computation of short-term capital gain by invoking section 50C and adopting the DVO's valuation of Rs. 21,82,500/- for land measuring 363.75 sq. mtr. at Rahapura Chaudhary, Bareilly, as against the actual sale consideration of Rs. 7,00,000/-declared by the appellant. 2 BECAUSE the Id. CIT(A) erred in law and on facts in confirming the com

The order continues below.

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