Case Law Details
Case Name : Bombay Samachar Pvt. Ltd Vs ACIT (ITAT Mumbai)
Related Assessment Year : 2015-16
Courts :
All ITAT ITAT Mumbai
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Bombay Samachar Pvt. Ltd Vs ACIT (ITAT Mumbai)
Introduction: The case of Bombay Samachar Pvt. Ltd Vs ACIT brings to light a significant issue regarding the valuation of property for taxation purposes. The core question revolves around whether a Valuation Officer should be involved in determining the sale consideration, as mandated by Section 50C of the Income Tax Act, 1961.
Detailed Analysis: Bombay Samachar Pvt. Ltd, a company engaged in the printing and
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