S. 50C Difference upto 10% in Value given by Appellant & Dept Valuer-Ignore?

Advocate Akhilesh Kumar Sah DIFFERENCE UPTO 10% BETWEEN THE VALUE AS GIVEN BY THE APPELLANT AND THE DEPARTMENTAL VALUER:  WHETHER CAN BE IGNORED FOR THE PURPOSES OF SECTION 50C Introduction: Section 50C of the Income Tax act, 1961(herein referred to as ‘the Act’) has been inserted in the Act by the Finance Act, 2002, w.e.f. 1-4-2003. This section is causing hardships, in many cases, to the assessees since its inception. Many appeals are arising in respect of this section. Recently, in Sita Bai Khetan vs. ITO [ITA No. 826/JP/2013, decided on 27/07/2016], one of the question raised was whe...