https://www.taxtmi.com/caselaws?id=376627 The Court held that the Assessee's objections against the higher valuation were not adequately considered by the authorities. It emphasized the need for a thorough fact-finding exercise to determine the fair market value for capital gains tax, allowing the Assessee to rebut the presumptive value under Section 50C. The matter was remitted back to the Assessing Authority to reconsider the property valuation, address the Assessee's objections, and compute the fair market value and relief under Section 54F. The appeal was allowed in favor of the Assessee. en-us Fri, 15 Feb 2019 00:00:00 +0530 Fri, 20 Sep 2019 16:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376627 The Court held that the Assessee's objections against the higher valuation were not adequately considered by the authorities. It emphasized the need for a thorough fact-finding exercise to determine the fair market value for capital gains tax, allowing the Assessee to rebut the presumptive value under Section 50C. The matter was remitted back to the Assessing Authority to reconsider the property valuation, address the Assessee's objections, and compute the fair market value and relief under Section 54F. The appeal was allowed in favor of the Assessee. Case-Laws Income Tax Fri, 15 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376627