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TMI Blog2013 (8) TMI 40X X X X Extracts X X X X X X X X Extracts X X X X ..... : Mr. R. Janakiraman For the Respondent : Mr. N. V. Balaji Standing Counsel for Income Tax Department. JUDGMENT (The Judgment of the Court was made by Chitra Venkataraman, J.) The following substantial questions of law are raised by the assessee in seeking admission of the Tax Case Appeal No.449 of 2013 relating to the assessment year 2009-10, preferred as against the orders of the Income Tax Appellate Tribunal, Chennai 'C' Bench dated 31.01.2013 passed in I.T.A.No.1587/Mds/2012. "1. Whether the Tribunal was right in law in confirming the order of the lower authorities in adopting the value as per Section 50C(1) without making any reference to the DVO as provided under Section 50C(2), inspite of objection raised by the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... apital gains. 3. Aggrieved by the same, the assessee went before the Commissioner of Income Tax (Appeals) and thereafter, before the Income Tax Appellate Tribunal. 4. A reading of the order of the Income Tax Appellate Tribunal shows that it rejected the assessee's appeal holding that there is nothing on record to show that the assessee had disputed the sale consideration of Rs.39,63,900/- adopted for the purposes of stamp duty taken as basis under the Income Tax Act, thus the Assessing Officer rightly invoked Section 50C of the Act. Thus, the assessee's appeal was rejected by the Income Tax Appellate Tribunal. 5. As rightly contended by the learned counsel for the assessee, when specific objection was made by the assessee as to the As ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... raised in respect of the valuation of the property under Section 50C, the assessee had not asked it to be referred to the DVO ? 2. Whether the finding of the Tribunal is perverse as no finding was given in respect of the contentions raised by the assessee ? 3. Whether the Tribunal is right in assessing the capital gains in the hands of assessee when the sale consideration was received by assessee and his brother as co-owners of the property ? 4. Whether the Tribunal was right in law in not considering the Board Circular No.14 (XL035) dated 11th April 1955 saying that it is the duty of the officer to appraise the assessee of his rights provided under the Act and not to take advantage of the ignorance of assessee? 9. In view of the or ..... X X X X Extracts X X X X X X X X Extracts X X X X
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