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2017 (7) TMI 530 - AT - Income TaxApplicability of provisions of section 50C - valuation as determined by the Valuation Officer - computation of capital gains - Held that:- Before us ld.A.R. has submitted that certain material developments had taken place like bequeathing assessee’s share in land in favour of Dilip Sopal, City Survey Officer passing the order by replacing the name of assessee with that of Dilip Sopal, assessee obtaining stay against the inclusion of name of Dilip Sopal in place of assessee and Dilip Sopal subsequently selling the portion of land to another developer. We are of the view that the aforesaid developments are material developments which goes to the root of the matter and the entire issue needs to be re-looked into in the light of the aforesaid developments. Assessee has also placed on record the copy of the aforesaid orders, documents as additional evidences. Thus we are of the view that the issue needs to be re- examined. Appeal of the assessee is allowed for statistical purpose.
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