https://www.taxtmi.com/caselaws?id=239031 The Tribunal partly allowed the Revenue's appeal, stressing the strict application of section 50C provisions for valuation in income tax assessments. It emphasized the need to base decisions on legal grounds rather than personal circumstances, directing the Assessing Officer to adjust long-term capital gains to Rs. 2.5 crores. The case underscores the significance of adhering to statutory provisions in valuation matters. en-us Mon, 07 Jan 2013 00:00:00 +0530 Sun, 03 Nov 2013 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239031 The Tribunal partly allowed the Revenue's appeal, stressing the strict application of section 50C provisions for valuation in income tax assessments. It emphasized the need to base decisions on legal grounds rather than personal circumstances, directing the Assessing Officer to adjust long-term capital gains to Rs. 2.5 crores. The case underscores the significance of adhering to statutory provisions in valuation matters. Case-Laws Income Tax Mon, 07 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239031