https://www.taxtmi.com/caselaws?id=380400 The Tribunal remitted the valuation of ancestral agricultural land converted into stock in trade to the Assessing Officer for a fresh assessment by the Departmental Valuation Officer. Discrepancies in fair market value determinations led to setting aside previous orders for a new valuation. Capital gain and business income were to be computed in the actual transfer year, with emphasis on accurate valuation. Challenges on the source of investments in bank accounts were to be reevaluated by the Assessing Officers to ensure fairness. All appeals were allowed for statistical purposes, stressing the importance of precise valuation and due process in tax assessments. en-us Fri, 17 May 2019 00:00:00 +0530 Sat, 18 May 2019 18:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380400 The Tribunal remitted the valuation of ancestral agricultural land converted into stock in trade to the Assessing Officer for a fresh assessment by the Departmental Valuation Officer. Discrepancies in fair market value determinations led to setting aside previous orders for a new valuation. Capital gain and business income were to be computed in the actual transfer year, with emphasis on accurate valuation. Challenges on the source of investments in bank accounts were to be reevaluated by the Assessing Officers to ensure fairness. All appeals were allowed for statistical purposes, stressing the importance of precise valuation and due process in tax assessments. Case-Laws Income Tax Fri, 17 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380400