https://www.taxtmi.com/caselaws?id=250650 The court dismissed the appeal, emphasizing the necessity of invoking Section 50C of the Income Tax Act for fair market valuation. It held that additions made under Section 69 based solely on circle rates without following proper valuation procedures were unsustainable. The court underscored the importance of adherence to correct procedures under the Act and refused to interfere with the Tribunal's order. en-us Mon, 04 Aug 2014 00:00:00 +0530 Thu, 21 Aug 2014 08:42:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250650 The court dismissed the appeal, emphasizing the necessity of invoking Section 50C of the Income Tax Act for fair market valuation. It held that additions made under Section 69 based solely on circle rates without following proper valuation procedures were unsustainable. The court underscored the importance of adherence to correct procedures under the Act and refused to interfere with the Tribunal's order. Case-Laws Income Tax Mon, 04 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250650