Tag: deeming fiction u/s 50C

Section 50C can be applied after claiming exemption u/s 54EC – High Court

Section 50C can be applied after claiming exemption u/s 54EC of the Income Tax Act. Any other interpretation would render the provisions redundant – High Court ABCAUS Case Law Citation: ABCAUS 2836 (2019) (03) HC Important Case Laws Cited/relied upon by the parties CIT Vs. Amarchand N. Shroff,  (1963) 48 ITR 59 (SC) CIT Vs. Vadilal Lallubhai (1972) 86 ITR 2 (SC) K.P.   …

50C provisions not apply to transfer of right in partnership firm. Sale deed of property executed in favour of incoming partners by retiring partners-ITAT

50C provisions not apply to transfer of right in partnership firm. Sale deed was executed in favour of incoming partners for transferring retiring partner’s right in the property belonging to the partnership firm-ITAT ABCAUS Case Law Citation: ABCAUS 1070 (2016) (12) ITAT Assessment Year: 2011-12 Date/Month of Judgment/Order: …