https://www.taxtmi.com/caselaws?id=365497 The Tribunal allowed the assessee's appeal, directing the Assessing Officer to compute capital gains based on the valuation by the Assistant Valuation Officer, reversing previous decisions. The rejection of the valuation report by the Commissioner of Income Tax (Appeals) was deemed erroneous, emphasizing the importance of proper claims before the assessing officer. The Tribunal upheld the validity of the assessee's claim and instructed the consideration of the District Valuation Officer's valuation for calculating capital gains, emphasizing adherence to Section 50C of the Income Tax Act. en-us Tue, 14 Aug 2018 00:00:00 +0530 Sat, 18 Aug 2018 09:25:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365497 The Tribunal allowed the assessee's appeal, directing the Assessing Officer to compute capital gains based on the valuation by the Assistant Valuation Officer, reversing previous decisions. The rejection of the valuation report by the Commissioner of Income Tax (Appeals) was deemed erroneous, emphasizing the importance of proper claims before the assessing officer. The Tribunal upheld the validity of the assessee's claim and instructed the consideration of the District Valuation Officer's valuation for calculating capital gains, emphasizing adherence to Section 50C of the Income Tax Act. Case-Laws Income Tax Tue, 14 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365497