https://www.taxtmi.com/caselaws?id=381474 The Court set aside the Tribunal's valuation order under Section 50C of the Income Tax Act, remanding the matter back for reevaluation within a year. The Court found the departmental Valuer's approach questionable and determined that additional evidence was needed to ascertain the property's fair market value. The Tribunal was directed to consider further evidence and engage the Valuation Officer for a fresh assessment. The judgment resolved the appeal and stay application by outlining these directives for the reevaluation process. en-us Mon, 01 Apr 2019 00:00:00 +0530 Wed, 12 Jun 2019 06:50:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381474 The Court set aside the Tribunal's valuation order under Section 50C of the Income Tax Act, remanding the matter back for reevaluation within a year. The Court found the departmental Valuer's approach questionable and determined that additional evidence was needed to ascertain the property's fair market value. The Tribunal was directed to consider further evidence and engage the Valuation Officer for a fresh assessment. The judgment resolved the appeal and stay application by outlining these directives for the reevaluation process. Case-Laws Income Tax Mon, 01 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381474