https://www.taxtmi.com/caselaws?id=361159 The Tribunal upheld the Ld. CIT(A)'s decision to delete the addition made by the Assessing Officer under section 50C of the Income Tax Act. It emphasized that failure to refer the matter to the valuation authority as requested renders the assessment order invalid. The Tribunal cited legal precedents and stressed the importance of following proper procedures for fair valuation practices in determining capital gains. The Revenue's appeal was dismissed, affirming the deletion of the addition by the Ld. CIT(A). en-us Mon, 28 May 2018 00:00:00 +0530 Wed, 30 May 2018 13:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361159 The Tribunal upheld the Ld. CIT(A)'s decision to delete the addition made by the Assessing Officer under section 50C of the Income Tax Act. It emphasized that failure to refer the matter to the valuation authority as requested renders the assessment order invalid. The Tribunal cited legal precedents and stressed the importance of following proper procedures for fair valuation practices in determining capital gains. The Revenue's appeal was dismissed, affirming the deletion of the addition by the Ld. CIT(A). Case-Laws Income Tax Mon, 28 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361159