https://www.taxtmi.com/caselaws?id=434501 The Tribunal partly allowed the appeal, remanding the matter back to the ld. CIT(A) for fresh consideration regarding the valuation of Long Term Capital Gain and the application of Section 50C of the Income Tax Act, 1961. The appellant's additional ground challenging the application of Section 50C was admitted for adjudication on merits. The Tribunal emphasized procedural compliance and the distinction between ownership and leasehold rights, granting the appellant another opportunity for a fair hearing despite past non-compliance, subject to a cost of Rs. 2,000 for negligence during the proceedings. en-us Thu, 23 Feb 2023 00:00:00 +0530 Sat, 25 Feb 2023 13:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434501 The Tribunal partly allowed the appeal, remanding the matter back to the ld. CIT(A) for fresh consideration regarding the valuation of Long Term Capital Gain and the application of Section 50C of the Income Tax Act, 1961. The appellant's additional ground challenging the application of Section 50C was admitted for adjudication on merits. The Tribunal emphasized procedural compliance and the distinction between ownership and leasehold rights, granting the appellant another opportunity for a fair hearing despite past non-compliance, subject to a cost of Rs. 2,000 for negligence during the proceedings. Case-Laws Income Tax Thu, 23 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434501