https://www.taxtmi.com/caselaws?id=398545 The Tribunal partly allowed the appeal regarding the valuation of a property for tax assessment. It found discrepancies in the valuation report provided by the Departmental Valuation Officer (DVO) and determined a fair market value rate based on seven comparable sale instances. The Tribunal directed the Assessing Officer to adjust the addition made under section 56(2)(vii) of the Income Tax Act accordingly. The decision was rendered on 28th July 2020, setting aside the valuation discrepancy in the assessment order. en-us Tue, 28 Jul 2020 00:00:00 +0530 Fri, 18 Sep 2020 17:30:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398545 The Tribunal partly allowed the appeal regarding the valuation of a property for tax assessment. It found discrepancies in the valuation report provided by the Departmental Valuation Officer (DVO) and determined a fair market value rate based on seven comparable sale instances. The Tribunal directed the Assessing Officer to adjust the addition made under section 56(2)(vii) of the Income Tax Act accordingly. The decision was rendered on 28th July 2020, setting aside the valuation discrepancy in the assessment order. Case-Laws Income Tax Tue, 28 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398545