Tag: deeming fiction u/s 50C
Section 50C not applicable to cold storage building so to substitute actual sale consideration by deemed sale consideration and order of AO cannot be revised u/s 263 – ITATÂ ABCAUS Case Law Citation: ABCAUS 2232 (2018) (03) ITAT The assessee was aggrieved by the order passed under section …
Revision 263 for non application of section 50C. The order of the AO was held not only erroneous but also prejudicial to the interest of Revenue – ITATÂ ABCAUS Case Law Citation: ABCAUS 1250 (2017) (05) ITAT The Grievance: The appellant assessee was aggrieved by the order passed …
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: …
AO statutorily required to compute capital gain us 48 not 50C. Deduction us 54EC also allowable on capital gain computed u/s 48 not on deemed cost of consideration u/s 50C-ITAT ABCAUS Case Law Citation: 1001 2016 (08) ITAT AY: 2009-10 Brief Facts of the Case: The appellant assessee …
