https://www.taxtmi.com/caselaws?id=343413 The Tribunal allowed the appeal for statistical purposes on 19th May 2017, noting that Section 50C of the Act should be invoked if the property is sold through a registered sale deed and the stamp valuation authority's value exceeds the declared value. If not registered, the declared value should be accepted. The Tribunal found that the Assessing Officer did not follow the procedures under Section 50C(2) and referred the matter to the Valuation Officer without proper invocation of Section 50C. The issue was restored to the Assessing Officer for reevaluation. en-us Fri, 19 May 2017 00:00:00 +0530 Thu, 25 May 2017 10:24:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343413 The Tribunal allowed the appeal for statistical purposes on 19th May 2017, noting that Section 50C of the Act should be invoked if the property is sold through a registered sale deed and the stamp valuation authority's value exceeds the declared value. If not registered, the declared value should be accepted. The Tribunal found that the Assessing Officer did not follow the procedures under Section 50C(2) and referred the matter to the Valuation Officer without proper invocation of Section 50C. The issue was restored to the Assessing Officer for reevaluation. Case-Laws Income Tax Fri, 19 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343413