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![Failure to refer matter to Departmental Valuation Officers for Assessing Fair Market Value of Land Property: ITAT Partly allows Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/ITAT-ITAT-Kolkata-Income-Tax-Assessing-Officer-taxscan.jpg "Failure to refer matter to Departmental Valuation Officers for Assessing Fair Market Value of Land Property: ITAT Partly allows Appeal [Read Order]")
Failure to refer matter to Departmental Valuation Officers for Assessing Fair Market Value of Land Property: ITAT Partly allows Appeal [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) has directed readjucation on the concerned grounds due to the lower authority's...
![Leasehold Right in Land or Building or both is Transferred, Provisions of Section 50C cannot be Invoked: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Leasehold-Right-Land-Building-Section-50C-ITAT-Taxscan.jpg "Leasehold Right in Land or Building or both is Transferred, Provisions of Section 50C cannot be Invoked: ITAT [Read Order]")
![Assessee not liable to pay Income Tax as property belongs to HUF of Assessee and not individual: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/06/Income-Tax-HUF-assessee-ITAT-assessment-order-taxscan.jpg "Assessee not liable to pay Income Tax as property belongs to HUF of Assessee and not individual: ITAT [Read Order]")
![If Land is treated as Stock-in-Trade, S. 50C does not Apply: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/Agricultural-Land.jpg "If Land is treated as Stock-in-Trade, S. 50C does not Apply: ITAT [Read Order]")
Sec 50C is Applicable when the Value adopted by Stamp Valuation Authority is Higher Than the Value declared by the Assessee: ITAT Delhi [Read Order]
In Jastinder Singh Vedi v. DCIT, the Delhi bench of the ITAT held that the “full value of consideration” reported in the return can be replaced with “fair market value of the property” if the value...
![Sec 50C is Applicable when the Value adopted by Stamp Valuation Authority is Higher Than the Value declared by the Assessee: ITAT Delhi [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Chandigarh-Taxscan.jpg "Sec 50C is Applicable when the Value adopted by Stamp Valuation Authority is Higher Than the Value declared by the Assessee: ITAT Delhi [Read Order]")