2015 (10) TMI 2859

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..... assessable stamp valuation authority only in respect of land or building or both cannot be extended or extrapolated to the transaction of transfer of the tenancy rights under the provisions of Section 50C - HELD THAT:- We find that the impugned order of the Tribunal dismissed the Revenue's appeal inter alia holding that the provisions of Section 50C of the Act would not be attracted in case o .....

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..... 2013 passed by the Income Tax Appellate Tribunal (the Tribunal) for the Assessment Year 2007-08. 2. The Revenue urges the following questions of law for our consideration: (i) Whether, on the facts and in the circumstances of the case and in law, the Tribunal has rightly decided that Assessing Officer has wrongly substituted the value adopted or assessable stamp valuation authority only in respec .....

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..... ransfer of tenancy rights is neither 'a land or building or both' and thus would not be covered under Section 50C of the Act. Mr. Malhotra, learned Counsel for the Revenue very fairly states that the Revenue has accepted the decision in the case of Shri. Atul G. Puranik (supra) inasmuch as no appeal has been preferred against the said order. 4. In the above view of the matter, the question .....

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