AI Structured Summary
Not yet generated for this judgment
Judgment
PER ANUBHAV SHARMA, JM:
This appeal is preferred by the assessee against the order dated 12.12.2025 of the Ld. National Faceless Appeal Centre (NFAC) Delhi (hereinafter referred as Ld. First Appellate Authority or in short Ld. ‘FAA’) in DIN & Order No: ITBA/NFAC/S/250/2025-26/1083609851(1) arising out of the assessment order dated 25.02.2025 u/s 147 r.w.s 144B of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) passed by NFAC, for AY: 2020-21.
Heard and perused the record. On hearing both sides we find that assesse had sold 4 properties in regard to which ld. Assessing Officer has invoked provisions of Section 50C of the Act to allege that the sale consideration is less than the stamp value and in regard to which assesse claims that at least 4 sale deeds of adjoining properties were submitted to Assessing Officer to show that the market rate was less than the sale consideration.
After giving thoughtful consideration to the facts and circumstances, we find that though assesse has not filed any valuation report but has relied the sale deeds of properties to claim that sale consideration was according to market value so in that case, if the ld. Assessing Officer was not satisfied with the claim then the appropriate recourse available with the Assessing Officer was to have matter referred to DVO (District Valuation Officer). We find that in submissions made to ld. CIT(A), copy of which is available at page No. 174-178, this plea was raised specifically, however, ld. CIT(A) has not appreciated the same.
In the light of aforesaid discussion we are accordingly inclined to allow the appeal of assesse for statistical purposes and setting aside the impugned orders, issue on merits are restored to Assessing Officer, with a direction to refer the matter to DVO and thereupon pass order afresh on merits.