https://www.taxtmi.com/caselaws?id=55201 The Tribunal upheld the Commissioner's revisional order directing the reassessment of land valuation for capital gains at Rs. 2.07 per sq.yd., rejecting the assessee's arguments based on Stamp Duty and other valuations. The Commissioner's authority to revise the assessment under sec. 263 post the CIT(A) decision was affirmed, emphasizing the impact on the assessment. Despite evidence of differing valuations in other cases, the Tribunal stressed the need for consistency, leading to the dismissal of the appeal and confirmation of the valuation at Rs. 2.07 per sq.yd. en-us Mon, 31 Jul 1989 00:00:00 +0530 Wed, 24 Nov 2010 14:57:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55201 The Tribunal upheld the Commissioner's revisional order directing the reassessment of land valuation for capital gains at Rs. 2.07 per sq.yd., rejecting the assessee's arguments based on Stamp Duty and other valuations. The Commissioner's authority to revise the assessment under sec. 263 post the CIT(A) decision was affirmed, emphasizing the impact on the assessment. Despite evidence of differing valuations in other cases, the Tribunal stressed the need for consistency, leading to the dismissal of the appeal and confirmation of the valuation at Rs. 2.07 per sq.yd. Case-Laws Income Tax Mon, 31 Jul 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55201