https://www.taxtmi.com/caselaws?id=240883 The court upheld the Assistant Valuation Officer's jurisdiction under Section 50C of the Income Tax Act and the validity of the valuation report. The court found the valuation method appropriate, considering the development method due to the lack of reliable sale instances. The market value estimation exceeding the Cooperative Society's value was deemed valid, and the objections were duly considered. The court dismissed the appellant's claim of perversity in the valuation report, affirming the taxing authorities' findings as conclusive. As a result, the Income Tax Appeal was dismissed. en-us Mon, 02 Dec 2013 00:00:00 +0530 Fri, 13 Dec 2013 07:14:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240883 The court upheld the Assistant Valuation Officer's jurisdiction under Section 50C of the Income Tax Act and the validity of the valuation report. The court found the valuation method appropriate, considering the development method due to the lack of reliable sale instances. The market value estimation exceeding the Cooperative Society's value was deemed valid, and the objections were duly considered. The court dismissed the appellant's claim of perversity in the valuation report, affirming the taxing authorities' findings as conclusive. As a result, the Income Tax Appeal was dismissed. Case-Laws Income Tax Mon, 02 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240883