Sec. 254 of Income Tax Act, 1961—Rectification of Mistake — Tribunal, vide its order dated 11.03.2011, had directed the assessing officer to adopt the DVO's valuation or Registered Stamp Valuation whichever is less, however in the said direction, the assessee had not been given an opportunity of raising objection regarding valuation made by DVO before the assessing officer. Because of this apparent mistake, the assessee had deprived from raising objection regarding valuation made by DVO before the assessing officer and hence to be rectified. The assessee contended that since there has been no mentioned about any liberty to the assessee to challenge the valuation as made by the DVO therefore, AO did not entertain objection of the assesseee about valuation made by the DVO. Thus, assessee prayed for a liberty to challenge the valuation of DVO and hence the assessing officer may be directed to entertain objection of the assesseee about valuation made by the DVO. Tribunal noted that valuation report of the DVO is not the last word on valuation, it can be challenged by the assessee. Tribunal allowed the appeal of the assess holding that “it fit and proper to remit the matter to the file of the CIT(A) for adjudication on merits in accordance with the scheme of the law, after giving a due and reasonable opportunity of hearing to the assessee as also to the DVO, and by way of a speaking order”.—SHRI MADHU SUDAN PAL vs. ITO.[2020] 26 ITCD Online 046 (ITAT-KOLKATA)