https://www.taxtmi.com/caselaws?id=249831 The Tribunal allowed the appeal in favor of the assessee. Regarding the applicability of Section 50C on the sale consideration of land, the Tribunal remitted the matter to the Assessing Officer (AO) for fresh adjudication, directing the AO to refer the valuation to the Departmental Valuation Officer (DVO) and provide a reasonable opportunity of hearing to the assessee. Concerning the disallowance of rebate of interest paid to the bank on the security of Fixed Deposit Receipts (FDR), the Tribunal directed the AO to delete the disallowance of interest paid on the loan against the FDR. en-us Fri, 18 Jul 2014 00:00:00 +0530 Fri, 25 Jul 2014 14:16:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249831 The Tribunal allowed the appeal in favor of the assessee. Regarding the applicability of Section 50C on the sale consideration of land, the Tribunal remitted the matter to the Assessing Officer (AO) for fresh adjudication, directing the AO to refer the valuation to the Departmental Valuation Officer (DVO) and provide a reasonable opportunity of hearing to the assessee. Concerning the disallowance of rebate of interest paid to the bank on the security of Fixed Deposit Receipts (FDR), the Tribunal directed the AO to delete the disallowance of interest paid on the loan against the FDR. Case-Laws Income Tax Fri, 18 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249831