https://www.taxtmi.com/caselaws?id=252408 A belated request for a Valuation Officer reference under Section 50C(2) was declined because the assessee had earlier accepted the registering authority's valuation and had not taken timely steps to dispute it; on those facts, the Assessing Officer was justified in treating the request as not bona fide or reasonable. The writ petition was also not entertained because an effective statutory appeal was available under Section 246, and the factual valuation dispute could be examined in that forum. The assessment order was therefore left undisturbed, and the assessee was directed to pursue the appellate remedy. en-us Fri, 10 Oct 2014 00:00:00 +0530 Tue, 21 Oct 2014 08:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252408 A belated request for a Valuation Officer reference under Section 50C(2) was declined because the assessee had earlier accepted the registering authority's valuation and had not taken timely steps to dispute it; on those facts, the Assessing Officer was justified in treating the request as not bona fide or reasonable. The writ petition was also not entertained because an effective statutory appeal was available under Section 246, and the factual valuation dispute could be examined in that forum. The assessment order was therefore left undisturbed, and the assessee was directed to pursue the appellate remedy. Case-Laws Income Tax Fri, 10 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252408