https://www.taxtmi.com/caselaws?id=371990 The Tribunal upheld the CIT(A)'s decision, affirming the addition of Rs. 4,96,400/- to the capital gains based on the District Valuation Officer's valuation. The Tribunal emphasized the binding nature of the DVO's report under Section 50C of the Income Tax Act, dismissing the assessee's objections regarding valuation methodology, minor differences in fair market value, and the impact of litigation status on property valuation. The appeal was dismissed, and the strict application of Section 50C provisions was reiterated in the judgment delivered on 13th December 2018. en-us Thu, 13 Dec 2018 00:00:00 +0530 Sat, 15 Dec 2018 09:59:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371990 The Tribunal upheld the CIT(A)'s decision, affirming the addition of Rs. 4,96,400/- to the capital gains based on the District Valuation Officer's valuation. The Tribunal emphasized the binding nature of the DVO's report under Section 50C of the Income Tax Act, dismissing the assessee's objections regarding valuation methodology, minor differences in fair market value, and the impact of litigation status on property valuation. The appeal was dismissed, and the strict application of Section 50C provisions was reiterated in the judgment delivered on 13th December 2018. Case-Laws Income Tax Thu, 13 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371990