https://www.taxtmi.com/caselaws?id=424719 The Tribunal allowed the appeal for statistical purposes, setting aside the assessment order and remanding the matter to the Assessing Officer (AO) for fresh determination. The AO was instructed to refer the property valuation to the District Valuation Officer (DVO) and make a new assessment based on the DVO's report, ensuring compliance with the legal provisions under Sections 56(2)(vii)(b) and 50C(2) of the Income-tax Act, 1961. en-us Mon, 04 Jul 2022 00:00:00 +0530 Thu, 07 Jul 2022 09:05:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424719 The Tribunal allowed the appeal for statistical purposes, setting aside the assessment order and remanding the matter to the Assessing Officer (AO) for fresh determination. The AO was instructed to refer the property valuation to the District Valuation Officer (DVO) and make a new assessment based on the DVO's report, ensuring compliance with the legal provisions under Sections 56(2)(vii)(b) and 50C(2) of the Income-tax Act, 1961. Case-Laws Income Tax Mon, 04 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424719