https://www.taxtmi.com/caselaws?id=379204 A valuation addition based on the Departmental Valuation Officer's report was reduced because different rates had been applied to comparable portions of the same land without a consistent, reasoned basis; the addition was recomputed at the lower rate. The objection that section 50C of the Income-tax Act did not apply because the agreement pre-dated the provision was rejected, as the relevant sale deed was executed after the provision came into force. The result was partial relief on valuation, while the section 50C challenge failed. en-us Mon, 08 Apr 2019 00:00:00 +0530 Mon, 29 Apr 2019 17:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379204 A valuation addition based on the Departmental Valuation Officer's report was reduced because different rates had been applied to comparable portions of the same land without a consistent, reasoned basis; the addition was recomputed at the lower rate. The objection that section 50C of the Income-tax Act did not apply because the agreement pre-dated the provision was rejected, as the relevant sale deed was executed after the provision came into force. The result was partial relief on valuation, while the section 50C challenge failed. Case-Laws Income Tax Mon, 08 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379204