https://www.taxtmi.com/caselaws?id=208426 The Tribunal set aside the orders of the CIT(A) for the assessment year 2004-05. The primary issue was the valuation under section 50C for a flat and garage. The Tribunal directed the AO to re-examine the applicability of section 50 and refer the matter to the DVO if found applicable. The Tribunal also restored the matter of estimated sale consideration for furniture to the AO for fresh consideration, considering a pending case before the Bombay High Court. The issue of disallowance of bad debts was not extensively addressed but could be reconsidered by the AO. The appeal was allowed for statistical purposes. en-us Thu, 14 Jan 2010 00:00:00 +0530 Mon, 16 Jan 2012 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208426 The Tribunal set aside the orders of the CIT(A) for the assessment year 2004-05. The primary issue was the valuation under section 50C for a flat and garage. The Tribunal directed the AO to re-examine the applicability of section 50 and refer the matter to the DVO if found applicable. The Tribunal also restored the matter of estimated sale consideration for furniture to the AO for fresh consideration, considering a pending case before the Bombay High Court. The issue of disallowance of bad debts was not extensively addressed but could be reconsidered by the AO. The appeal was allowed for statistical purposes. Case-Laws Income Tax Thu, 14 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208426