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TMI Blog2019 (11) TMI 202X X X X Extracts X X X X X X X X Extracts X X X X ..... ter referred as to "the Act") for the Assessment Year 2013-14. 2. The short point involved in this particular matter is this that as to whether without obtaining a valuation report from the DVO the capital gain of a particular property can be determined by the authorities below rejecting the valuation done by the registered valuer as relied upon by the assessee. During the course of assessment proceeding, information regarding sale of land by the assessee was noticed by the Learned AO whereupon details regarding such sale of land in question was asked for. Pursuant to that the assessee submitted the details along with working of long term capital gain. The same was also supported by the valuation report prepared by the registered valuer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... relied upon the order passed by the authorities below. 4. We have heard the rival contentions and perused the relevant materials available on record including the order passed by the Co-ordinate Bench. It appears that admittedly the Learned AO rejected the valuation made by the registered valuer as relied upon by the assessee but has failed to decide the issue upon obtaining a copy from the DVO regarding the valuation of that particular property which is now a settled legal position in view of the several judicial pronouncements including the order passed by the Hon'ble Jurisdictional High Court as relied upon by the Co-ordinate Bench. While deciding the issue the Co-ordinate Bench observed as follows: "8. We have considered the rival ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by ignoring two sales instances adopted by the registered valuer i.e. of Rs. 538.20 per sq. mtr. being the first sale instance and Rs. 253.60 per sq. mtr. being the 3rd sale instance. These two sales instances were ignored by the Ld. CIT(A) on this basis that in both these cases, open plot of land was not sold but partially constructed area was sold and if the said rate is adopted after reducing the cost of construction already made before sale then it will be very low in the case of 1st instance and 3rd instance. For 3rd sales instance, it is also noted by Ld. CIT(A) that the date of sale is August 1982 being more than one year after the date of 01.04.1981. He has ignored these two sales instances adopted by the Registered valuer and by ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ining the report of a technical person viz. DVO or some other technical expert. The Tribunal order cited by the Ld. A.R. rendered in the case of Rajendra H Seth (supra) supports the assessee on this aspect. Relevant para of this Tribunal order i.e. para 10.1 is reproduced below: "10.1. As regards valuation of flat as on 1.4.1981, the admitted facts of the case are that the value declared by the assessee is supported by valuation report of a Registered Valuer. The A.O. has taken a different valuation without obtaining valuation report from the DVO. The AO has taken value as on 1.4.1981 on other basis. We are of the view that assessee's valuation as on 1.04.1981 is supported by valuation by a technical person ie. report of registered v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not brought on record by the authorities below or by Ld. D.R. that such part construction was useful to the buyer and the value of the same was considered for the valuation of the property in those two instances. In the absence of any such finding on this aspect, the order of Ld. CIT(A) to ignore those two sale instances is not proper. Regarding the action of Ld. CIT(A) also, the same tribunal decision rendered in the case of Rajendra H Seth (supra), supports the case of the assessee because as per this tribunal decision, the report of registered valuer being a technical person, cannot be substituted without obtaining any DVO's report or any other report of a technical person. In the present case, no such report of any technical person has ..... X X X X Extracts X X X X X X X X Extracts X X X X
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