https://www.taxtmi.com/caselaws?id=186772 The ITAT Mumbai held that section 50C was not applicable to the assessee's case during the relevant period as the sale agreement was unregistered and not assessed by the Stamp Valuation Authorities. The reopening of the assessment solely based on the applicability of section 50C was deemed legally flawed. The ITAT set aside the AO's order in the reopened assessment proceedings under section 147 and reinstated the original assessment order dated 08.12.2008 under section 143(3) of the Act. Consequently, the appeal of the assessee was allowed. en-us Tue, 23 Sep 2014 00:00:00 +0530 Fri, 30 Sep 2016 06:26:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186772 The ITAT Mumbai held that section 50C was not applicable to the assessee's case during the relevant period as the sale agreement was unregistered and not assessed by the Stamp Valuation Authorities. The reopening of the assessment solely based on the applicability of section 50C was deemed legally flawed. The ITAT set aside the AO's order in the reopened assessment proceedings under section 147 and reinstated the original assessment order dated 08.12.2008 under section 143(3) of the Act. Consequently, the appeal of the assessee was allowed. Case-Laws Income Tax Tue, 23 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186772