https://www.taxtmi.com/caselaws?id=770165 ITAT Ahmedabad allowed assessee's appeal on Section 50C addition for statistical purposes, directing AO to refer property valuation to Valuation Officer after assessee claimed stamp duty value exceeded fair market value during remand proceedings. However, ITAT dismissed assessee's challenge to 3% profit rate applied on cash deposits in tour/travel business, upholding CIT(A)'s decision as reasonable given assessee's failure to produce books of account and admission of earning 2-3% commission on turnover. en-us Mon, 05 May 2025 00:00:00 +0530 Wed, 07 May 2025 09:18:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770165 ITAT Ahmedabad allowed assessee's appeal on Section 50C addition for statistical purposes, directing AO to refer property valuation to Valuation Officer after assessee claimed stamp duty value exceeded fair market value during remand proceedings. However, ITAT dismissed assessee's challenge to 3% profit rate applied on cash deposits in tour/travel business, upholding CIT(A)'s decision as reasonable given assessee's failure to produce books of account and admission of earning 2-3% commission on turnover. Case-Laws Income Tax Mon, 05 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770165