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TMI Blog2021 (10) TMI 551X X X X Extracts X X X X X X X X Extracts X X X X ..... claim under Section 54 of the Act. We, therefore, allow the appeal by directing the Ld. AO to pass orders in accordance with law. - Decided in favour of assessee. - I.T.A. No. 409/Rjt/2018 - - - Dated:- 30-9-2021 - Waseem Ahmed, Member (A) And Madhumita Roy, Member (J) For the Appellant : Bhavin Shah, AR For the Respondents : S.S. Rathi, Sr. D.R. ORDER Per Ms Madhumita Roy, JM The instant appeal filed by the assessee is directed against the order dated 27.08.2018 passed by the Commissioner of Income Tax (Appeals), Jamnagar arising out of the order dated 18.02.2016 passed by the ITO, Ward - 1(1), Jamnagar under Section 144 r.w.s. 147 of the Income Tax Act, 1961 (hereinafter referred as to the Act ) for the Assessm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , valuation cell, Rajkot for valuation of the said property. Subsequently the AO has sent his remand report dated 05/06/2018 along with copy of valuation report dated 24/04/2018 of the Asst. Valuation Officer, valuation cell, Rajkot. On perusal of valuation report of departmental valuation officer, it is seen that the fair market value of the property has been estimated by him at ₹ 11,65,000/- as on 1999-2000 after considering the evidences produced by the appellant to him and also having taken in to accounts all the relevant materials gathered by him. It may be mentioned that the copy of remand report dated 05/06/2018 along with copy of valuation report of the departmental valuation officer were provided to the appellant and she was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hand, the assessee's contention is this that the amendment of this proviso of Section 139(1) is applicable w.e.f. assessment 2020-21 which is not applied in the case of the applicant. In this regard, he has drawn our attention to Page 132 of the Paper Book upon considering the same we find merit and substance in the case made out by the assessee. It appears that the 6th Proviso of Section 139(1) after amendment is applicable for A.Y. 2020-21. The assessee's case is not coming unde the purview of such proviso. Hence, we hold that the assessee is entitled to such claim under Section 54 of the Act. We, therefore, allow the appeal by directing the Ld. AO to pass orders in accordance with law. 6. In the result, the appeal preferred b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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