https://www.taxtmi.com/caselaws?id=280486 The Tribunal dismissed both parties' appeals, upholding the disallowance of deduction claimed under Section 54F of the Income Tax Act for failure to prove purchase of a new asset within the statutory period. Additionally, the Tribunal affirmed the addition under Section 50C based on the Valuation Officer's report, emphasizing the Assessing Officer's duty to consider the report and provide the assessee an opportunity to be heard. The Tribunal's decision was pronounced on 27/04/2016. en-us Wed, 27 Apr 2016 00:00:00 +0530 Tue, 07 May 2019 23:07:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280486 The Tribunal dismissed both parties' appeals, upholding the disallowance of deduction claimed under Section 54F of the Income Tax Act for failure to prove purchase of a new asset within the statutory period. Additionally, the Tribunal affirmed the addition under Section 50C based on the Valuation Officer's report, emphasizing the Assessing Officer's duty to consider the report and provide the assessee an opportunity to be heard. The Tribunal's decision was pronounced on 27/04/2016. Case-Laws Income Tax Wed, 27 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280486