https://www.taxtmi.com/caselaws?id=151246 The case involved the computation of long-term capital gain under section 50C of the Income-tax Act, 1961. The Tribunal ruled in favor of the assessee, finding the Assessing Officer's failure to refer the matter to the Valuation Officer under section 50C(2) incorrect. The case was remanded for fresh adjudication after referral to the Valuation Officer, allowing both parties to submit further contentions and evidence. The Tribunal directed the Assessing Officer to determine the sale consideration and capital gain post-referral. Both appeals by the assessees were allowed for statistical purposes. en-us Tue, 25 May 2010 00:00:00 +0530 Mon, 03 Jun 2013 10:09:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151246 The case involved the computation of long-term capital gain under section 50C of the Income-tax Act, 1961. The Tribunal ruled in favor of the assessee, finding the Assessing Officer's failure to refer the matter to the Valuation Officer under section 50C(2) incorrect. The case was remanded for fresh adjudication after referral to the Valuation Officer, allowing both parties to submit further contentions and evidence. The Tribunal directed the Assessing Officer to determine the sale consideration and capital gain post-referral. Both appeals by the assessees were allowed for statistical purposes. Case-Laws Income Tax Tue, 25 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151246