https://www.taxtmi.com/caselaws?id=769171 HC set aside lower court order in tax assessment case involving long-term capital gains on land sale. Court held that assessing officer failed to conduct proper de novo assessment as directed by Appellate Tribunal, relying on previous materials instead of fresh hearing. Officer also denied personal hearing despite taxpayer's request for video conference. Regarding Section 50-C applicability, court ruled guideline value prevails over declared sale consideration for tax computation, but taxpayer entitled to hearing on share of liability since property wasn't exclusively owned. Matter remitted to assessing officer for fresh assessment following proper procedure. en-us Tue, 25 Mar 2025 00:00:00 +0530 Mon, 21 Apr 2025 08:41:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769171 HC set aside lower court order in tax assessment case involving long-term capital gains on land sale. Court held that assessing officer failed to conduct proper de novo assessment as directed by Appellate Tribunal, relying on previous materials instead of fresh hearing. Officer also denied personal hearing despite taxpayer's request for video conference. Regarding Section 50-C applicability, court ruled guideline value prevails over declared sale consideration for tax computation, but taxpayer entitled to hearing on share of liability since property wasn't exclusively owned. Matter remitted to assessing officer for fresh assessment following proper procedure. Case-Laws Income Tax Tue, 25 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769171