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2018 (5) TMI 1768 - AT - Income TaxAdditions u/s 50C - adopting sale consideration for the purpose of computing the capital gains - Held that:- As is the settled legal position in the light of Hon’ble Calcutta High Court’s judgment in the case of Sunil Kumar Agarwal Vs. CIT [2014 (6) TMI 13 - CALCUTTA HIGH COURT] Assessing Officer, discharging a quasi judicial function has the bounden duty to act fairly and to give a fair treatment by giving him an option to follow the course provided by the law. In the light of these discussions, as also bearing in mind entirety of the case, we deem it fit and proper to remit the matter to the file of the Assessing Officer with a direction to refer the valuation of property to the Departmental Valuation Officer, and to frame the fresh assessment in the light of, inter alia, Departmental Valuation Officer’s report, in accordance with the law, after affording an opportunity of hearing to the assessee and by way of a speaking order. The matter thus stands restored to the file of the Assessing Officer in the terms indicated above.
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