https://www.taxtmi.com/caselaws?id=290705 ITAT held the AO's addition under section 50C unlawful and upheld CIT(A)'s quashment. The AO issued a non-speaking order, failed to address the assessee's valuation submissions, and omitted mandatory reference to the DVO under s.50C(2). Because the record showed no finding of excess receipt and the AO did not explain rejection of evidence, the Tribunal refused to remit the matter for corrective proceedings, ruling that the Department cannot be granted a fresh opportunity to cure procedural and substantive defects. Decision rendered against the revenue. en-us Mon, 20 Aug 2018 00:00:00 +0530 Fri, 17 Oct 2025 10:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290705 ITAT held the AO's addition under section 50C unlawful and upheld CIT(A)'s quashment. The AO issued a non-speaking order, failed to address the assessee's valuation submissions, and omitted mandatory reference to the DVO under s.50C(2). Because the record showed no finding of excess receipt and the AO did not explain rejection of evidence, the Tribunal refused to remit the matter for corrective proceedings, ruling that the Department cannot be granted a fresh opportunity to cure procedural and substantive defects. Decision rendered against the revenue. Case-Laws Income Tax Mon, 20 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290705