SANGITA KSHETRY,NOIDA vs. ACIT,CIRCLE INT.TAX. 2(1)(2), NEW DELHI

In the result, the appeal of the assesses in ITA 1876/Del/2023, ITA

Bench: Sh. C.N. Prasad & Sh. Naveen Chandraassessment Year: 2016-17

142A would also annul the extension of limitation (prescribed under clause (v) of Explanation 1 Section 153) which was availed on the basis of reference to Valuation officer. 26. The ld. AR relied on several judgements to buttress his submissions on the issue of bar in substitution of full value of consideration with FMV sans evidence as follows: i) Arjun

ITO, NEW DELHI vs. SH. ASHWANI KUMAR MALIK, MEERUT

Bench: Shri S.V. Mehrotra & Smt. Beena Pillai

depreciation on the building should have been applied to arrive at the fair market value as on 01/04/1981. Disagreeing with the valuation the AO referred to the Departmental Valuation Cell u/s 55A, for determining the fair market value as on 01/04/1981. The Departmental Valuation Officer(DVO) ascertaining the values and the residential being Rs. 2,51,900/- and for commercial