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INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH)
Anubhav Sharma, JM, Avdhesh Kumar Mishra, AM
Jaswin Kaur Sethi – Appellant
Versus
DCIT – Respondent
| Table of Content |
|---|
| 1. assessment of property value is contested. (Para 1 , 2) |
| 2. arguments made by both parties are presented. (Para 3) |
| 3. court emphasizes adherence to statutory provisions for property valuation. (Para 4 , 5 , 6 , 7 , 8 , 9) |
| 4. final ruling directs reassessment based on registered valuer's report. (Para 10) |
ORDER
PER ANUBHAV SHARMA, JM
This appeal is preferred by the assessee against the final assessment order dated 16.06.2023 of the Asstt. Commissioner of Income-tax (Appeals), International Taxation, Gurgaon (hereinafter referred as ‘the Ld. AO’) for Assessment Year 2020-21 passed u/s 143(3) r.w.s. 144C(13) of the Income Tax Act, 1961 (hereinafter referred as ‘the Act’).
2. The assessee is a non-resident individual and during the year under consideration had sold a residential property which is a residential-cum- commercial property jointly held by her along with her mother. This property, bearing No.16/48, Diplomatic Enclave, Malcha Marg, New Delhi, was sold for a total sale consideration of Rs.25,91,00,000/- vide sale deed dated 25.06.2018 and assessee’s share in the sale consideration being 50% was Rs.19,26,60,000/-. The assessee had taken this value on the basis of sta
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