Tribunal Rules: Assessing Officer Must Accept Valuation Officer's Report u/s 50(C)(2) for Capital Gains.

Tribunal Rules: Assessing Officer Must Accept Valuation Officer's Report u/s 50(C)(2) for Capital Gains. https://www.taxtmi.com/highlights?id=67325 Capital gain computation - Jantri rates v/s DVO’s report - Tribunal has rightly observed that once valid reference to the valuation officer is made under section 50(C)(2) of the Act, assessing officer is not empowered to reject the report of the valuation officer. - the A.O. is not justified in adopting the value other than as adopted by the stamp duty authority. - HC en-us Sat, 24 Dec 2022 15:17:16 +0530 Sat, 24 Dec 2022 15:17:16 +0530 TaxTMI RSS Generator Tribunal Rules: Assessing Officer Must Accept Valuation Officer's Report u/s 50(C)(2) for Capital Gains. https://www.taxtmi.com/highlights?id=67325 Capital gain computation - Jantri rates v/s DVO’s report - Tribunal has rightly observed that once valid reference to the valuation officer is made under section 50(C)(2) of the Act, assessing officer is not empowered to reject the report of the valuation officer. - the A.O. is not justified in adopting the value other than as adopted by the stamp duty authority. - HC Highlights Income Tax Sat, 24 Dec 2022 15:17:16 +0530 https://www.taxtmi.com/highlights?id=67325