SHRI MUKESHBHAI BHAGABHAI PATEL,GANDHINAGAR vs. THE ITO, PATAN WARD-5, MEHSANA

Appeal of the assessee is partly allowed

Bench: Smt.Annapurna Gupta & Smt.Suchitra Kambleassessment Year :2011-12 Mukesh Bhagabhai Patel Vs. Ito, Patan-Ward-5 38/2, Krishnanagar Mehsana. Sector 26, Gandhinagar Gujarat. Pan : Afvpp 9008 F अपीलाथ"/ (Appellant) "" यथ"/(Respondent) Assessee By : Shri R.B. Patel, Ar Revenue By : Shri Atul Pandy, Sr.Dr सुनवाई क" तार"ख/Date Of Hearing : 24/06/2022 घोषणा क" तार"ख /Date Of Pronouncement: 15/09/2022 आदेश/O R D E R Per Annapurna Guptapresent Appeal Has Been Filed By The Assessee Against Order Passed By The Ld. Commissioner Of Income-Tax(Appeals), Gandhinagar [Hereinafter Referred To As “Ld.Cit(A)”] Under Section 250(6) Of The Income Tax Act, 1961 ("The Act" For Short) Dated 14.08.2019 Pertaining To The Asst.Year 2011-12. 2. At The Outset, It Was Stated That The Issue In The Present Appeal Related To Determination Of Fair Market Value Of The Cost Of Asset Sold By The Assessee As On 1.4.1981 For The Purpose Of Determining The Cost Of Acquisition Thereof For Computing The Capital Gain Earned On Sale Of Land. The Ld.Counsel For The Assessee Stated That Several Grounds Had Been Raised By The Assessee In His Appeal, But Before Us Arguments Vis-À-Vis Only Ground No.5 Were Being Made. 2

142A w.e.f. Asst.Year 2015-16, the ld.CIT(A) held that the AO ought to have resorted to the said section, but further noted that the said section required the AO to refer the matter to the DVO if he is not satisfied with the valuation of the assessee and noting no such reference being made by the AO, he rejected