https://www.taxtmi.com/caselaws?id=337036 The Tribunal set aside the CIT(A)'s decision and directed the AO to refer the property valuation matter to the District Valuation Officer as per Section 50C(2) of the Income Tax Act. The AO was instructed to determine the Fair Market Value of the property for calculating capital gains, providing the assessee a fair opportunity. The appeal was allowed for statistical purposes, and the case was remanded for fresh adjudication. en-us Wed, 14 Dec 2016 00:00:00 +0530 Mon, 02 Jan 2017 10:28:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337036 The Tribunal set aside the CIT(A)'s decision and directed the AO to refer the property valuation matter to the District Valuation Officer as per Section 50C(2) of the Income Tax Act. The AO was instructed to determine the Fair Market Value of the property for calculating capital gains, providing the assessee a fair opportunity. The appeal was allowed for statistical purposes, and the case was remanded for fresh adjudication. Case-Laws Income Tax Wed, 14 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337036