https://www.taxtmi.com/caselaws?id=248109 The Calcutta HC held that the AO must utilize the valuation machinery provided under section 50C(2) when determining capital gains, even if the assessee doesn't specifically request it. The court ruled that departmental valuation officer assessment is necessary to prevent miscarriage of justice, as capital gains cannot be fixed solely on stamp duty valuation by District Sub Registrar. The AO has a quasi-judicial duty to act fairly and provide proper legal options to taxpayers. The matter was remitted back to AO for fresh adjudication following proper valuation procedures. en-us Thu, 13 Mar 2014 00:00:00 +0530 Wed, 07 May 2025 09:16:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248109 The Calcutta HC held that the AO must utilize the valuation machinery provided under section 50C(2) when determining capital gains, even if the assessee doesn't specifically request it. The court ruled that departmental valuation officer assessment is necessary to prevent miscarriage of justice, as capital gains cannot be fixed solely on stamp duty valuation by District Sub Registrar. The AO has a quasi-judicial duty to act fairly and provide proper legal options to taxpayers. The matter was remitted back to AO for fresh adjudication following proper valuation procedures. Case-Laws Income Tax Thu, 13 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248109