Section 50-C valuation issue to be considered on remand in income tax appellate proceedings

Special leave petitions were disposed of after the matter had already been remanded to the Commissioner of Income Tax (Appeals), with a further direction that the appellate authority also examine the assessee's additional contention under Section 50-C of the Income-tax Act, 1961. The operative effect was that the remand proceedings were broadened to include the valuation-related issue raised by the assessee, leaving that question for consideration by the appellate authority.

---

---

Outcome: The special leave petitions were disposed of after the matter had been remanded to the Commissioner of Income Tax (Appeals), with a direction that the authority also consider the additional issue raised by the assessee relating to Section 50-C of the Income-tax Act, 1961.

---