https://www.taxtmi.com/caselaws?id=390039 The Gujarat High Court issued a notice and stayed further proceedings related to the assessment for the relevant year after the petitioner challenged the reopening of assessment by the Assessing Officer based on valuation discrepancies and audit objections. The petitioner argued that the assessment reopening reasons were erroneous as section 50C does not mandate valuation at the jantri rate and that the audit objections were not accepted by the Assessing Officer, raising doubts on income assessment escape justification. en-us Wed, 18 Dec 2019 00:00:00 +0530 Sun, 22 Dec 2019 07:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390039 The Gujarat High Court issued a notice and stayed further proceedings related to the assessment for the relevant year after the petitioner challenged the reopening of assessment by the Assessing Officer based on valuation discrepancies and audit objections. The petitioner argued that the assessment reopening reasons were erroneous as section 50C does not mandate valuation at the jantri rate and that the audit objections were not accepted by the Assessing Officer, raising doubts on income assessment escape justification. Case-Laws Income Tax Wed, 18 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390039