https://www.taxtmi.com/highlights?id=99688 Enhancement of short-term capital gains based on a departmental valuation failed because the Valuation Officer did not serve the statutory notice or afford the assessee an opportunity to object to the proposed fair market value. The Tribunal treated this as a procedural defect and denial of natural justice, so the valuation report could not be acted upon. The matter was remanded to the Assessing Officer for de novo adjudication after obtaining a fresh valuation report in accordance with law, and the appellate order on this point was set aside. en-us Tue, 12 May 2026 08:50:36 +0530 Tue, 12 May 2026 08:50:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=99688 Enhancement of short-term capital gains based on a departmental valuation failed because the Valuation Officer did not serve the statutory notice or afford the assessee an opportunity to object to the proposed fair market value. The Tribunal treated this as a procedural defect and denial of natural justice, so the valuation report could not be acted upon. The matter was remanded to the Assessing Officer for de novo adjudication after obtaining a fresh valuation report in accordance with law, and the appellate order on this point was set aside. Highlights Income Tax Tue, 12 May 2026 08:50:36 +0530 https://www.taxtmi.com/highlights?id=99688