https://www.taxtmi.com/caselaws?id=25366 The High Court of Madhya Pradesh found the Tribunal's decision to remand a case for fresh consideration regarding valuation of property and tax liability on capital gains unjustified. The Court emphasized that the Tribunal's discretion for remand should align with reason and justice, especially when all essential facts are on record. The Court ruled that the Appellate Assistant Commissioner had thoroughly considered all relevant evidence, making the Tribunal's decision to remand inappropriate. Additionally, the Court ruled against the assessee on the tax exemption claim based on historical notifications. Each party was ordered to bear their own costs. en-us Sat, 21 Mar 1987 00:00:00 +0530 Thu, 28 Jan 2010 11:43:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25366 The High Court of Madhya Pradesh found the Tribunal's decision to remand a case for fresh consideration regarding valuation of property and tax liability on capital gains unjustified. The Court emphasized that the Tribunal's discretion for remand should align with reason and justice, especially when all essential facts are on record. The Court ruled that the Appellate Assistant Commissioner had thoroughly considered all relevant evidence, making the Tribunal's decision to remand inappropriate. Additionally, the Court ruled against the assessee on the tax exemption claim based on historical notifications. Each party was ordered to bear their own costs. Case-Laws Income Tax Sat, 21 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25366