https://www.taxtmi.com/caselaws?id=429482 The Tribunal allowed the appeal, quashing the time-barred assessment order. The valuation of the immovable property for LTCG was deemed incorrect as the AO wrongly used Section 142A instead of Section 50C. The initiation of penalty proceedings under Section 271(1)(c) was not addressed due to the invalidated assessment order. The decision favored the assessee, rendering the other issues moot. en-us Wed, 19 Oct 2022 00:00:00 +0530 Sat, 29 Oct 2022 09:19:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429482 The Tribunal allowed the appeal, quashing the time-barred assessment order. The valuation of the immovable property for LTCG was deemed incorrect as the AO wrongly used Section 142A instead of Section 50C. The initiation of penalty proceedings under Section 271(1)(c) was not addressed due to the invalidated assessment order. The decision favored the assessee, rendering the other issues moot. Case-Laws Income Tax Wed, 19 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429482