https://www.taxtmi.com/caselaws?id=20016 The court quashed the reference made by the Income-tax Officer to the District Valuation Officer under section 55A of the Income Tax Act, determining the fair market value of land for capital gains assessment. Despite the potential applicability of the relevant clause, the court found the Income-tax Officer's decision unjustified and not in compliance with the law. Consequently, the court allowed the petition, setting aside the actions of the Income-tax Officer and the District Valuation Officer, and directed the Income-tax Officer to proceed in accordance with the law. en-us Mon, 20 Sep 1993 00:00:00 +0530 Wed, 11 Nov 2009 11:35:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20016 The court quashed the reference made by the Income-tax Officer to the District Valuation Officer under section 55A of the Income Tax Act, determining the fair market value of land for capital gains assessment. Despite the potential applicability of the relevant clause, the court found the Income-tax Officer's decision unjustified and not in compliance with the law. Consequently, the court allowed the petition, setting aside the actions of the Income-tax Officer and the District Valuation Officer, and directed the Income-tax Officer to proceed in accordance with the law. Case-Laws Income Tax Mon, 20 Sep 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20016