https://www.taxtmi.com/caselaws?id=366607 The appeal contested the addition under Section 50C of the Income-tax Act of Rs. 28,37,120, based on the higher valuation by the stamp authority. The Assessing Officer's failure to refer the valuation to the DVO, as required by law, led to the appeal's success. The Tribunal directed a reassessment with DVO valuation, emphasizing adherence to legal procedures and fair treatment in valuation disputes. The judgment underscored the importance of proper procedures and fair treatment for taxpayers in such cases. en-us Thu, 30 Aug 2018 00:00:00 +0530 Thu, 06 Sep 2018 11:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366607 The appeal contested the addition under Section 50C of the Income-tax Act of Rs. 28,37,120, based on the higher valuation by the stamp authority. The Assessing Officer's failure to refer the valuation to the DVO, as required by law, led to the appeal's success. The Tribunal directed a reassessment with DVO valuation, emphasizing adherence to legal procedures and fair treatment in valuation disputes. The judgment underscored the importance of proper procedures and fair treatment for taxpayers in such cases. Case-Laws Income Tax Thu, 30 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366607