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TMI Blog2022 (6) TMI 648X X X X Extracts X X X X X X X X Extracts X X X X ..... fore the ld. CIT(A) claiming that the Assessing Officer ought to have referred the matter to the Departmental Valuation Officer. We find that the ld. CIT(A) did ask the AO to get the valuation report from the DVO, which the Assessing Officer called from the DVO and the DVO determined the market value of the impugned property. Assessee submitted valuation report of some valuer, valuing the marke ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... U.S, Judicial Member For the Assessee : None For the Department : Ms. Anupama Singla, Sr. DR ORDER PER N.K. BILLAIYA, ACCOUNTANT MEMBER:- This appeal by the assessee is preferred against the order of the ld. CIT(A) - 4, New Delhi dated 30.11.2018 pertaining to Assessment Year 2013-14. 2. The solitary grievance of the assessee is that the ld. CIT(A) erred i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a at a total sale consideration of Rs. 5.50 crores. 7. The assessee was asked to submit copy of sale deed which was duly submitted and on perusal of the same, the Assessing Officer found that the cost of value as per the circle rate was Rs. 8,85,68,900/-. The assessee was asked to explain as to why provisions of section 50C of the Act should not be applied on the given facts of the case. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing Officer to get the valuation report from the DVO, which the Assessing Officer called from the DVO and the DVO determined the market value of the impugned property at Rs. 12,86,55,700/-. 12. We further find that thereafter, the assessee submitted valuation report of some valuer, valuing the market value of the property at Rs. 5.50 crores. This valuation report was dismissed by the ld. CIT( ..... X X X X Extracts X X X X X X X X Extracts X X X X
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