https://www.taxtmi.com/caselaws?id=275295 The Tribunal upheld the validity of the notice issued under Section 148 of the Income Tax Act, 1961, for reassessment based on received information regarding property sale value. The computation of capital gain was disputed, with the Tribunal directing referral to the Valuation Cell for accurate assessment, emphasizing adherence to proper valuation procedures under Section 50C(2) of the Income-tax Act, 1961. The appeal was allowed for statistical purposes, stressing the significance of following due process in assessing capital gains and complying with legal provisions. en-us Fri, 27 Feb 2015 00:00:00 +0530 Thu, 27 Sep 2018 06:41:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275295 The Tribunal upheld the validity of the notice issued under Section 148 of the Income Tax Act, 1961, for reassessment based on received information regarding property sale value. The computation of capital gain was disputed, with the Tribunal directing referral to the Valuation Cell for accurate assessment, emphasizing adherence to proper valuation procedures under Section 50C(2) of the Income-tax Act, 1961. The appeal was allowed for statistical purposes, stressing the significance of following due process in assessing capital gains and complying with legal provisions. Case-Laws Income Tax Fri, 27 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275295