https://www.taxtmi.com/caselaws?id=120552 The Tribunal upheld the CIT(A)'s order directing the Assessing Officer to adopt the Valuation Officer's estimation for computing capital gains, as per Section 50C of the Income-tax Act, 1961. The Tribunal found that the CIT(A)'s direction to refer the properties to the Valuation Cell was appropriate and consistent with statutory provisions. The appeal filed by the Revenue was dismissed, affirming that capital gains should be computed based on the Valuation Cell's assessment rather than the stamp duty value. en-us Thu, 17 Apr 2008 00:00:00 +0530 Fri, 15 Dec 2023 18:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120552 The Tribunal upheld the CIT(A)'s order directing the Assessing Officer to adopt the Valuation Officer's estimation for computing capital gains, as per Section 50C of the Income-tax Act, 1961. The Tribunal found that the CIT(A)'s direction to refer the properties to the Valuation Cell was appropriate and consistent with statutory provisions. The appeal filed by the Revenue was dismissed, affirming that capital gains should be computed based on the Valuation Cell's assessment rather than the stamp duty value. Case-Laws Income Tax Thu, 17 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120552