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TMI Blog2020 (9) TMI 664X X X X Extracts X X X X X X X X Extracts X X X X ..... te adopted in the DVO s report at 77,640/- per sq. mtr is without any basis. Our attention has also been drawn towards the Preliminary valuation report by the DVO, whose copy has been made available at page 5 onwards of the Paper Book. Annexure-2 to the said report refers to seven comparable sale instances with per sq. mtr sale rate at 84,859/-, 57,498/-, 63,223/-, 56,740/-, 71,443/-, 59,613/- and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessment year 2015-16. 2. The only issue raised in this appeal is against the addition on account of valuation of a property, namely, Office Units No.18 & 19, 5th Floor, D Tower, Vega Centre, Gultekadi, Pune purchased by the assessee. Succinctly, the facts of the case are that the assessee jointly purchased the afore-referred commercial property. The said property was purchased by the assessee, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tting time barred on 31.12.2017. Since no valuation report was received till the date of passing of the assessment order on 20.12.2017, the Assessing Officer added the differential amount of ₹ 13,62,326/- to the total income of the assessee. During the course of the first appellate proceedings, the assessee submitted that the report of the DVO was received determining fair market value of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... commercial area as well as car parking determining the total value of the property at ₹ 2,11,42,000/-. The ld. AR contended that there is no basis for computing ₹ 77,640/- per sq. mtr in the DVO's report. The Bench directed the ld. DR to point out the basis of the DVO's report through which the rate of ₹ 77,640/- per sq. mtr was arrived at. She also could not correlate this figur ..... X X X X Extracts X X X X X X X X Extracts X X X X
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