https://www.taxtmi.com/caselaws?id=250801 The tribunal partly allowed the appeal, remitting the matter back to the Assessing Officer (AO) to ascertain the fair market value of the property as on the date of sale, considering specific objections raised by the assessee. The AO was instructed to conduct necessary inquiries to determine a fair estimation of the property's value and afford the assessee a reasonable opportunity to be heard, deciding the issue based on facts and materials on record and in accordance with the law. en-us Wed, 13 Aug 2014 00:00:00 +0530 Tue, 24 Feb 2015 16:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250801 The tribunal partly allowed the appeal, remitting the matter back to the Assessing Officer (AO) to ascertain the fair market value of the property as on the date of sale, considering specific objections raised by the assessee. The AO was instructed to conduct necessary inquiries to determine a fair estimation of the property's value and afford the assessee a reasonable opportunity to be heard, deciding the issue based on facts and materials on record and in accordance with the law. Case-Laws Income Tax Wed, 13 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250801