https://www.taxtmi.com/caselaws?id=403830 The Tribunal remanded the case to the Assessing Officer to verify the High Court's order on property valuation enhancement. If the enhancement was invalidated, the income assessment would proceed without invoking Section 56(2)(vii)(b). However, if the enhancement stood, the Assessing Officer was instructed to use a consistent valuation of Rs. 2,03,65,854, aligning with the vendor's case. The appeal was partially allowed for statistical purposes to ensure the Assessee's fair presentation opportunity. en-us Thu, 21 Jan 2021 00:00:00 +0530 Tue, 09 Feb 2021 10:31:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403830 The Tribunal remanded the case to the Assessing Officer to verify the High Court's order on property valuation enhancement. If the enhancement was invalidated, the income assessment would proceed without invoking Section 56(2)(vii)(b). However, if the enhancement stood, the Assessing Officer was instructed to use a consistent valuation of Rs. 2,03,65,854, aligning with the vendor's case. The appeal was partially allowed for statistical purposes to ensure the Assessee's fair presentation opportunity. Case-Laws Income Tax Thu, 21 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403830