https://www.taxtmi.com/caselaws?id=291173 The Tribunal upheld the application of Section 50C of the Income Tax Act, 1961, regarding the valuation of a property for capital gains calculation. It confirmed the valuation determined by the Stamp Valuation Authority and the reopening of the assessment under Section 147. The Tribunal emphasized that the value determined by the District Revenue Officer (Stamps) was final and could not be challenged further. The appeal was dismissed, and the addition made by the Assessing Officer was sustained. en-us Wed, 15 Mar 2017 00:00:00 +0530 Sat, 31 Oct 2020 07:09:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291173 The Tribunal upheld the application of Section 50C of the Income Tax Act, 1961, regarding the valuation of a property for capital gains calculation. It confirmed the valuation determined by the Stamp Valuation Authority and the reopening of the assessment under Section 147. The Tribunal emphasized that the value determined by the District Revenue Officer (Stamps) was final and could not be challenged further. The appeal was dismissed, and the addition made by the Assessing Officer was sustained. Case-Laws Income Tax Wed, 15 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291173