https://www.taxtmi.com/caselaws?id=410393 The Tribunal directed a proper inquiry to verify the land status at the time of sale to determine the applicability of Section 50C provisions accurately. It emphasized the need for a thorough investigation into the land's status to ascertain the ownership rights and fair market value. The Tribunal rectified inconsistencies in the valuation process and partially allowed both appeals, stressing the importance of a fair and accurate assessment based on the specifics of each case. en-us Wed, 28 Jul 2021 00:00:00 +0530 Fri, 30 Jul 2021 18:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410393 The Tribunal directed a proper inquiry to verify the land status at the time of sale to determine the applicability of Section 50C provisions accurately. It emphasized the need for a thorough investigation into the land's status to ascertain the ownership rights and fair market value. The Tribunal rectified inconsistencies in the valuation process and partially allowed both appeals, stressing the importance of a fair and accurate assessment based on the specifics of each case. Case-Laws Income Tax Wed, 28 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410393