https://www.taxtmi.com/caselaws?id=403083 The appeal was allowed for statistical purposes only, and the assessment was remanded to the assessing officer for a fresh evaluation based on the presented facts and documents. The Tribunal found discrepancies in the assessment process, emphasizing the need for proper evaluation and ordered a de novo assessment. The assessing officer's reliance on stamp valuation for determining land value was upheld, but the addition of short-term capital gains was set aside for reassessment due to discrepancies in the assessment order. The failure to make a reference to the District Valuation Officer led to the Tribunal directing a fresh assessment. en-us Mon, 04 Jan 2021 00:00:00 +0530 Mon, 18 Jan 2021 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403083 The appeal was allowed for statistical purposes only, and the assessment was remanded to the assessing officer for a fresh evaluation based on the presented facts and documents. The Tribunal found discrepancies in the assessment process, emphasizing the need for proper evaluation and ordered a de novo assessment. The assessing officer's reliance on stamp valuation for determining land value was upheld, but the addition of short-term capital gains was set aside for reassessment due to discrepancies in the assessment order. The failure to make a reference to the District Valuation Officer led to the Tribunal directing a fresh assessment. Case-Laws Income Tax Mon, 04 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403083