Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2012 Year 2012 This

The words "adopted" or "assessed" (as also "assessable") in s. ...

Case Laws     Income Tax

August 31, 2012

The words "adopted" or "assessed" (as also "assessable") in s. 50C(1) qualify the word "value" preceding it, and not the word "transfer" - there being no assessment by it by the end of the relevant year, i.e., 31-03-2006 cannot be accepted - AT

View Source

 


 

You may also like:

  1. Reopening of assessment u/s 147 for assessing Long Term Capital Gain on sale of land in Financial Year 2005-06. Assessing Officer (AO) adopted full value consideration...

  2. Classification of goods - Benefit of exemption - the expression “other than” appearing after the words “gaseous hydro carbons” and before the words “natural gas” would...

  3. Capital gains – In view of the provisions of sub-section (2) of section 50C, if fair market value as assessed by the DVO is lower than the value adopted by Stamp Duty...

  4. With effect from 1.5.2006, the words “commercial concern" was substituted by the words “person" and w.e.f 16.5.2008, the words “to a client” was replaced by the word “to...

  5. Non-filer assessee had taxable income but failed to file return u/s 139(1), later filed return in response to notice u/s 148 without considering section 50C provisions,...

  6. Imposition of penalty u/s 271(1)(c) of the Income Tax Act for two types of additions: (1) the addition made u/s 50C on the difference between stamp duty value and sale...

  7. Capital gain computation - value determined by the stamp duty authorities in terms of Section 50C(1) - When assessee objected the value adopted or assessed by the stamp...

  8. Classification of goods - melamine utensils, i.e., plates, bowls, spoons and dinner sets, etc. - The word “appliances” being word of day-to-day use, its popular or...

  9. Who is required to Constitute a Corporate Social Responsibility Committee - the conditions of net profit of rupees five crore or more - provision relaxed - for the words...

  10. Levy of penalty u/s 271(1)(c) - failure to take stamp duty value of property u/s 50C being land and building for sale - From a clear distinction between sale...

  11. Capital loss on sale of property - addition u/s 50C - Lot of emphasis has been laid on interpretation of the word “may” occurring in section 50C(2) of the Act ignoring...

  12. 100% EOU - Refund of the accumulated CENVAT Credit - The Tribunal has rightly interpreted the words used in Rules 5 and 6 by pointing out that the words used in Rule 6...

  13. Levy of penalty u/s 271B - violation to get accounts audited u/s 44AB - The word ‘relevant’ qualifying the words ‘assessment or other order’ in section 275(1)(a) has to...

  14. Disallowance of depreciation u/s 32 - intangible assets - amount paid for non compete fees - non compete fee is not an eligible intangible asset as the words “similar...

  15. Exclusive Right over Trademark - no one can claim exclusive right for the word 'IMPERIAL' since the word 'IMPERIAL' was only a common word - the petitioner had also...

 

Quick Updates:Latest Updates