https://www.taxtmi.com/caselaws?id=283701 The Tribunal overturned the Assessing Officer's decision to reject the Registered Valuer's market valuation and instead adopt a lower value for computing capital gains without seeking expert opinion. The Tribunal emphasized the importance of proper procedures and expert opinions in property valuations for tax purposes, directing the Assessing Officer to accept the Registered Valuer's valuation. The appeal was allowed in favor of the assessee, setting aside the lower authorities' orders and emphasizing adherence to correct valuation methodologies. en-us Thu, 09 Jul 2015 00:00:00 +0530 Mon, 07 Oct 2019 21:29:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283701 The Tribunal overturned the Assessing Officer's decision to reject the Registered Valuer's market valuation and instead adopt a lower value for computing capital gains without seeking expert opinion. The Tribunal emphasized the importance of proper procedures and expert opinions in property valuations for tax purposes, directing the Assessing Officer to accept the Registered Valuer's valuation. The appeal was allowed in favor of the assessee, setting aside the lower authorities' orders and emphasizing adherence to correct valuation methodologies. Case-Laws Income Tax Thu, 09 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283701