Fair market value under section 50C must reflect existing property condition, not hypothetical development, and statutory valuation steps must be foll...
Penalty u/s 271(1)(c) - Non-striking of the limb in the notice - In the case in hand on behalf of the Ld. DR an attempt was made to defend the notices submitting that there are allegations of both concealment and of furnishing inaccurate particulars, then in that case it was all the more necessary to identify and convey to the assessee under the notice as to which particular set of allegations he needs to defend. - Order of CIT(A) setting aside the order and deleting the penalty confirmed - AT
Penalty u/s 271(1)(c) - Non-striking of the limb in the notice - In the case in hand on behalf of the Ld. DR an attempt was made to defend the notices submitting that there are allegations of both concealment and of furnishing inaccurate particulars, then in that case it was all the more necessary to identify and convey to the assessee under the notice as to which particular set of allegations he needs to defend. - Order of CIT(A) setting aside the order and deleting the penalty confirmed - AT
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