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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>CBDT Circular: Refer Building Valuation Claims Over Rs. 2 Lakhs to Valuation Cell for Accurate Tax Assessment.</h1> The circular from the Central Board of Direct Taxes (CBDT) instructs that in income tax cases, any claims by an assessee of constructing a building valued at Rs. 2 lakhs or more should be referred to the Valuation Cell. This directive modifies previous instructions and is in addition to existing guidelines that require referral to the Valuation Cell if there is a suspected understatement in the value of immovable property of Rs. 50,000 or more. The instructions are to be communicated to all assessing officers.