https://www.taxtmi.com/caselaws?id=414314 The ITAT allowed the assessee's appeal for statistical purposes in a tax case involving two issues. Firstly, it directed the AO to reconsider the addition of Rs. 11,87,796 due to discrepancies between TDS and income shown, emphasizing the need to properly assess reconciliation statements. Secondly, it instructed a reassessment of the addition of Rs. 39,68,928 under section 50C concerning a property sale, requiring referral to the DVO for accurate valuation. The ITAT found shortcomings in the lower authorities' assessments and remanded both matters for fresh consideration. en-us Thu, 28 Oct 2021 00:00:00 +0530 Tue, 02 Nov 2021 09:29:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414314 The ITAT allowed the assessee's appeal for statistical purposes in a tax case involving two issues. Firstly, it directed the AO to reconsider the addition of Rs. 11,87,796 due to discrepancies between TDS and income shown, emphasizing the need to properly assess reconciliation statements. Secondly, it instructed a reassessment of the addition of Rs. 39,68,928 under section 50C concerning a property sale, requiring referral to the DVO for accurate valuation. The ITAT found shortcomings in the lower authorities' assessments and remanded both matters for fresh consideration. Case-Laws Income Tax Thu, 28 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414314