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2018 (10) TMI 1593 - AT - Income TaxLong Term Capital Gain - non reference of matter to the Valuation Officer as per section 50C(2) - FMV determination - Held that:- We direct the AO to refer to the Valuation Officer to determine the fair market value u/s 50C(2). Accordingly determine the capital gain after giving proper opportunity of being heard to the assessee. Therefore, the impugned order is set aside and AO is directed to redo assessment de-novo. Appeal of the assessee allowed for statistical purposes.
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