https://www.taxtmi.com/caselaws?id=404043 The Appellate Tribunal ITAT Hyderabad allowed the appeals for A.Y. 2009-10, directing the Assessing Officer to re-examine the long term capital gain addition under Section 50C of the Income Tax Act, 1961. The Tribunal emphasized the mandatory nature of the Departmental Valuation Officer (DVO) reference in Section 50C proceedings, even if not requested by the assessee. The Assessing Officer was instructed to consider title disputes and distressing factors in the asset sale, and the assessees were given the opportunity to present arguments. The appeals were treated as allowed for statistical purposes. en-us Thu, 04 Feb 2021 00:00:00 +0530 Sat, 13 Feb 2021 15:03:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404043 The Appellate Tribunal ITAT Hyderabad allowed the appeals for A.Y. 2009-10, directing the Assessing Officer to re-examine the long term capital gain addition under Section 50C of the Income Tax Act, 1961. The Tribunal emphasized the mandatory nature of the Departmental Valuation Officer (DVO) reference in Section 50C proceedings, even if not requested by the assessee. The Assessing Officer was instructed to consider title disputes and distressing factors in the asset sale, and the assessees were given the opportunity to present arguments. The appeals were treated as allowed for statistical purposes. Case-Laws Income Tax Thu, 04 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404043