https://www.taxtmi.com/caselaws?id=234638 The ITAT allowed the assessee's appeal concerning a land valuation dispute, overturning the CIT(A)'s decision and emphasizing the lack of evidence supporting a higher valuation. The Revenue's appeal challenging the valuation reduction was dismissed, and another appeal regarding the CIT(A)'s rectification under Section 154 was allowed, noting the debatable nature of the issue. The judgment underscored the necessity of evidence in valuation disputes, the constraints on tax provisions, and the CIT(A)'s jurisdiction boundaries. en-us Fri, 14 Jun 2013 00:00:00 +0530 Thu, 20 Jun 2013 11:24:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234638 The ITAT allowed the assessee's appeal concerning a land valuation dispute, overturning the CIT(A)'s decision and emphasizing the lack of evidence supporting a higher valuation. The Revenue's appeal challenging the valuation reduction was dismissed, and another appeal regarding the CIT(A)'s rectification under Section 154 was allowed, noting the debatable nature of the issue. The judgment underscored the necessity of evidence in valuation disputes, the constraints on tax provisions, and the CIT(A)'s jurisdiction boundaries. Case-Laws Income Tax Fri, 14 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234638