https://www.taxtmi.com/caselaws?id=260556 The Tribunal set aside the lower authorities' orders and directed the Assessing Officer to refer the matter to the Valuation Officer for determining the fair market value under Section 50C. It also remitted the issue of TDS certificates back to the Assessing Officer for verification and granting credit. Regarding the surplus on the sale of land, the Tribunal upheld the CIT(Appeals)' decision to assess it as capital gains, dismissing the Revenue's appeal. The Tribunal allowed the assessee's appeal for statistical purposes and emphasized adherence to proper valuation procedures and correct income source treatment for tax assessment. en-us Fri, 15 May 2015 00:00:00 +0530 Tue, 16 Jun 2015 12:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260556 The Tribunal set aside the lower authorities' orders and directed the Assessing Officer to refer the matter to the Valuation Officer for determining the fair market value under Section 50C. It also remitted the issue of TDS certificates back to the Assessing Officer for verification and granting credit. Regarding the surplus on the sale of land, the Tribunal upheld the CIT(Appeals)' decision to assess it as capital gains, dismissing the Revenue's appeal. The Tribunal allowed the assessee's appeal for statistical purposes and emphasized adherence to proper valuation procedures and correct income source treatment for tax assessment. Case-Laws Income Tax Fri, 15 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260556