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Facts
The assessee filed an appeal against an order passed by the Ld. CIT(A) for the assessment year 2013-2014. There was an 11-day delay in filing the appeal, which was condoned by the Tribunal. The core issue concerned the valuation of a property sold by the assessee, for which no valuation report had been filed before the Assessing Officer.
Held
The Tribunal held that the matter should be re-examined by the Assessing Officer, who must consider the Departmental Valuation Officer's (DVO) report and any valuation report submitted by the assessee. The assessee is to be given a sufficient opportunity of being heard during this fresh examination.
Key Issues
Whether the valuation of the property sold by the assessee was correctly determined by the authorities, and if the Assessing Officer adequately considered all necessary valuation reports and evidence.
Sections Cited
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Income Tax Appellate Tribunal, “A” BENCH, KOLKATA
Before: SHRI DUVVURU RL REDDY & SHRI RAJESH KUMAR
O R D E R
Per Rajesh Kumar, AM :
This is an appeal filed by the assessee against the order dated 02.01.2025, passed by the ld. CIT(A), National Faceless Appeal Centre (NFAC), Delhi, for the assessment year 2013-2014.
At the outset, we observe that there is a delay of 11 days in filing the appeal by the assessee. The assessee has filed a condonation petition along with affidavit for condonation of delay. After considering the contents of the affidavit and the reasons stated therein, we condone the delay of 11 days in filing the appeal by the assessee and the appeal is admitted for adjudication.
After hearing the rival contentions and perusing the material available on record, we find that in this case the issue was only in regard to the valuation of the property which was sold by the assessee during the year under consideration. We note that the assessee has not filed any valuation report before the Assessing Officer. Therefore, in the interest of Assessing Officer afresh after taking into the account of the DVO’s report as well as valuation report which may be submitted by the assessee. The assessee shall be provided sufficient opportunity of being heard. Thus, the appeal of the assessee is allowed for statistical purposes. 4. In the result, appeal of the assessee is allowed for statistical purposes. Order pronounced in the open court on 26/08/2025.