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Income Tax - Highlights / Catch Notes

Home Highlights August 2013 Year 2013 This

Section 50-C of the Act cannot be applied to the sale agreements ...


Sale Agreements Before April 1, 2003, Not Affected by Section 50-C if Delays are Justified and No Concealment Claims Exist.

August 23, 2013

Case Laws     Income Tax     AT

Section 50-C of the Act cannot be applied to the sale agreements entered into before the introduction of the said provisions i.e before 1-4-2003 especially when delay in execution and registration of conveyance is sufficiently explained and there is no allegation of suppression of actual consideration - AT

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