https://www.taxtmi.com/caselaws?id=411669 The Tribunal allowed the appeal for reconsideration as it found errors in not referring the property valuation to the departmental valuation officer under Section 50C(2) as requested by the appellant. The AO and CIT(A) failed to comply with the statutory provision, leading to the appeal being set aside for reassessment to ensure proper valuation procedures are followed in accordance with the Income Tax Act. en-us Wed, 18 Aug 2021 00:00:00 +0530 Tue, 31 Aug 2021 22:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411669 The Tribunal allowed the appeal for reconsideration as it found errors in not referring the property valuation to the departmental valuation officer under Section 50C(2) as requested by the appellant. The AO and CIT(A) failed to comply with the statutory provision, leading to the appeal being set aside for reassessment to ensure proper valuation procedures are followed in accordance with the Income Tax Act. Case-Laws Income Tax Wed, 18 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411669