Swapna Alok Chowdhury vs. The Income Tax Officer

Parties Involved

Facts Summary

The assessee's appeal for the assessment year 2012-2013 arises against the order of the Additional/Joint Commissioner of Income Tax (Appeals) in Jaipur. The assessee did not appear for the hearing, leading to the case being proceeded ex-parte. Both the lower authorities made a long-term capital gains addition of Rs.10,60,289/- based on the transfer of a capital asset representing land in Aurangabad. The Assessing Officer had made a statutory reference to the Deputy Valuation Officer, Nagpur, for determining the fair market value of the land, but the valuation report was never considered by the authorities. The assessee's appeal was allowed for statistical purposes, and the case was restored to the Assessing Officer for a fresh decision considering the DVO's valuation report.…

Legal Issues

• 1. Whether the lower authorities correctly considered the valuation report from the Deputy Valuation Officer, Nagpur, in making the long-term capital gains addition?

Judgment Outcome

Decided in favour of Assessee.

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