AI Structured Summary
Not yet generated for this judgment
Judgment
This assessee’s appeal for Assessment Year 2017-18 arises against the Addl./JCIT( A)-1, Delhi’s DIN & order No. ITBA/APL/ S/250/2025-26/1081763232(1) dated 15.10.2025, in proceedings u/s 143(3) of the Income Tax Act, 1961 (in short “the Act”).
Heard both the p arties at length. Case file perused.
It emerges dur ing the course o f hearing that both the learned lower authorities have invoked sectio n 50 C of the Act for adding the difference betwee n the assessee’s sale price of the relevant capital asset amo unting to Rs.16,00,000/- and stamp valued thereof of Rs.30,50,000/-, as his capital gains derived in the relevant previous year, in assessment order dated 29.04.2019 as upheld in the lower appellate discussion.
That being the case, le arned departmental representative could hardly d ispute that both the lower authorities have nowhere made any statutory reference to the DVO u/s 50C(2) of the Act w hich has been held mandatory in Sunil Kumar Aggarwal Vs. CIT (2015) 372 ITR 83 (Cal.). I accordingly deem it appropriate to restore the assessee’s instant sole substantive ground back to the learned assessing authority for it’s afresh appropriate adjudication as per law in very terms. All other issues are kept o pen at this stage.
This assessee’s appeal is allowed for statistical purposes.