https://www.taxtmi.com/caselaws?id=259203 The High Court ruled in favor of the appellant, holding that the property's value should not have been determined solely based on an invalid agreement of sale. The Court emphasized the need for a reassessment of the property's value by the Assessing Officer considering fair market value without relying on the disputed agreement. The matter was directed for a fresh assessment by the Assessing Officer, excluding the contentious agreement, and considering other relevant factors. No costs were awarded in the judgment. en-us Mon, 13 Apr 2015 00:00:00 +0530 Mon, 04 May 2015 06:42:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259203 The High Court ruled in favor of the appellant, holding that the property's value should not have been determined solely based on an invalid agreement of sale. The Court emphasized the need for a reassessment of the property's value by the Assessing Officer considering fair market value without relying on the disputed agreement. The matter was directed for a fresh assessment by the Assessing Officer, excluding the contentious agreement, and considering other relevant factors. No costs were awarded in the judgment. Case-Laws Income Tax Mon, 13 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259203