https://www.taxtmi.com/caselaws?id=791479 Valuation-based capital gains adjustment was held unsustainable where the Departmental Valuation Officer finalised fair market value without serving notice or giving the assessee an effective opportunity to object. The Tribunal applied the statutory safeguard requiring prior notice and an opportunity to state objections before the valuation is completed, and found that non-compliance vitiated the valuation process. The impugned addition was therefore set aside and the matter remanded to the Jurisdictional Assessing Officer for fresh adjudication on the basis of a new valuation report prepared in accordance with the prescribed procedure. en-us Fri, 17 Apr 2026 00:00:00 +0530 Tue, 12 May 2026 08:50:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791479 Valuation-based capital gains adjustment was held unsustainable where the Departmental Valuation Officer finalised fair market value without serving notice or giving the assessee an effective opportunity to object. The Tribunal applied the statutory safeguard requiring prior notice and an opportunity to state objections before the valuation is completed, and found that non-compliance vitiated the valuation process. The impugned addition was therefore set aside and the matter remanded to the Jurisdictional Assessing Officer for fresh adjudication on the basis of a new valuation report prepared in accordance with the prescribed procedure. Case-Laws Income Tax Fri, 17 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791479