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Assessee has raised the ground that on the facts and in the circumstances of thecaseand in law the ld. CIT(A) erred in rejecting the claim of the assesse that the land so sold is not a capital assets, therefore no capital gain is chargeable thereon more so when the assessee submitted the complete documents in support of his claim.

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Sec. 50C of Income Tax Act, 1961—Capital Gain— There is no justification for making any addition u/s 50C as assessee had declared sale consideration more than DLC - AO is not satisfied with the explanation of the assessee, he 'should' refer the matter to the DVO for the valuation purpose, thus as per provisions of this section if the assessee raise any sort of objection regarding the value adopted by the registrar authority and if the AO is not satisfied on that then the AO should refer the matter to DVO and this is a legal requirement which must be complied with by the AO. - OM PRAKASH AGARWAL V/s DY. CIT - [2020] 207 TTJ 121 (ITAT-JAIPUR)

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