https://www.taxtmi.com/caselaws?id=174266 The High Court of Karnataka allowed the appeal challenging the Tribunal's valuation decisions regarding timber for computing capital gains. The Court found that the Tribunal's determinations lacked factual basis and market value support, raising substantial legal questions. Consequently, the objections were overruled, and the matter was remanded to the Assessing Officer for a fresh assessment emphasizing scientific valuation methods. The appeal was allowed without directly addressing the legal questions, granting the assessee an opportunity for further proceedings. en-us Wed, 24 Feb 2010 00:00:00 +0530 Mon, 05 Oct 2015 14:53:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=174266 The High Court of Karnataka allowed the appeal challenging the Tribunal's valuation decisions regarding timber for computing capital gains. The Court found that the Tribunal's determinations lacked factual basis and market value support, raising substantial legal questions. Consequently, the objections were overruled, and the matter was remanded to the Assessing Officer for a fresh assessment emphasizing scientific valuation methods. The appeal was allowed without directly addressing the legal questions, granting the assessee an opportunity for further proceedings. Case-Laws Income Tax Wed, 24 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=174266