Valuation of Sale Consideration shall be made after seeking Valuation Report from Valuation Officer as per Section 50C of Income Tax Act: ITAT [Read Order]

By Sunayana Dhal - On October 12, 2023 7:00 am - 2 mins read
Valuation of Sale -Consideration - seeking Valuation Report - Valuation Officer - Income Tax Act-ITAT-TAXSCAN

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the valuation of the sale consideration shall be made after seeking the valuation report from the valuation officer as per Section 50C of the Income Tax Act, 1961. The assessee is a company and is engaged in the business of printing and publication…

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