https://www.taxtmi.com/caselaws?id=411752 Capital gains on transfer of land had to be recomputed after fresh valuation because the transfer was treated as occurring on the date of the registered transaction, while the stamp valuation under section 50C remained unresolved and the valuation report had not been obtained before completion of assessment. The matter was remitted to the Assessing Officer for fresh determination with proper opportunity to the assessee. The first appellate authority's disallowance of transfer expenditure was deleted because the issue was not part of the assessment dispute and enhancement could not be made without complying with the requirement of giving the assessee a reasonable opportunity to show cause. en-us Fri, 27 Aug 2021 00:00:00 +0530 Wed, 01 Sep 2021 22:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411752 Capital gains on transfer of land had to be recomputed after fresh valuation because the transfer was treated as occurring on the date of the registered transaction, while the stamp valuation under section 50C remained unresolved and the valuation report had not been obtained before completion of assessment. The matter was remitted to the Assessing Officer for fresh determination with proper opportunity to the assessee. The first appellate authority's disallowance of transfer expenditure was deleted because the issue was not part of the assessment dispute and enhancement could not be made without complying with the requirement of giving the assessee a reasonable opportunity to show cause. Case-Laws Income Tax Fri, 27 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411752