https://www.taxtmi.com/caselaws?id=372853 The Tribunal partially allowed the appeal in a dispute over Long Term Capital Gain (LTCG) addition under section 50C of the Income Tax Act for the assessment year 2006-07. The Tribunal directed the Assessing Officer to adopt an average valuation based on the assessee's and Departmental Valuation Officer's assessments of the fair market price of the capital asset. This decision aimed to address discrepancies in quantification and ensure a fair outcome without setting a precedent for future cases. en-us Wed, 29 Aug 2018 00:00:00 +0530 Sat, 29 Dec 2018 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372853 The Tribunal partially allowed the appeal in a dispute over Long Term Capital Gain (LTCG) addition under section 50C of the Income Tax Act for the assessment year 2006-07. The Tribunal directed the Assessing Officer to adopt an average valuation based on the assessee's and Departmental Valuation Officer's assessments of the fair market price of the capital asset. This decision aimed to address discrepancies in quantification and ensure a fair outcome without setting a precedent for future cases. Case-Laws Income Tax Wed, 29 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372853