https://www.taxtmi.com/caselaws?id=69475 The Tribunal allowed the appeals by the assessees for statistical purposes, highlighting the importance of procedural fairness and adherence to legal principles in tax assessments. The case involved a dispute over the determination of long-term capital gain under section 50C of the Income Tax Act, 1961, and the opportunity for the assessee to challenge the valuation by the stamp valuation authority. The Tribunal emphasized the specific nature of section 50C in determining consideration in property transfers and upheld the assessee's right to challenge valuation discrepancies, remitting the case back to the Assessing Officer for re-examination. en-us Wed, 28 Jan 2009 00:00:00 +0530 Thu, 07 Apr 2011 11:33:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69475 The Tribunal allowed the appeals by the assessees for statistical purposes, highlighting the importance of procedural fairness and adherence to legal principles in tax assessments. The case involved a dispute over the determination of long-term capital gain under section 50C of the Income Tax Act, 1961, and the opportunity for the assessee to challenge the valuation by the stamp valuation authority. The Tribunal emphasized the specific nature of section 50C in determining consideration in property transfers and upheld the assessee's right to challenge valuation discrepancies, remitting the case back to the Assessing Officer for re-examination. Case-Laws Income Tax Wed, 28 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69475