https://www.taxtmi.com/caselaws?id=269676 The High Court upheld the Tribunal's decision in a tax appeal regarding the valuation of an immovable property for computing capital gains. The Court affirmed that the valuation determined by the Stamp Duty authority prevails unless challenged by the assessee and the Valuation Officer's valuation exceeds that of the stamp duty authority. The Court dismissed the Tax Appeal, emphasizing the application of Section 50-C of the Income-tax Act and the precedence of the lower value between departmental and stamp duty valuations for computing capital gains. en-us Tue, 01 Dec 2015 00:00:00 +0530 Thu, 17 Dec 2015 23:52:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269676 The High Court upheld the Tribunal's decision in a tax appeal regarding the valuation of an immovable property for computing capital gains. The Court affirmed that the valuation determined by the Stamp Duty authority prevails unless challenged by the assessee and the Valuation Officer's valuation exceeds that of the stamp duty authority. The Court dismissed the Tax Appeal, emphasizing the application of Section 50-C of the Income-tax Act and the precedence of the lower value between departmental and stamp duty valuations for computing capital gains. Case-Laws Income Tax Tue, 01 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269676