Revision u/s 263 - Capital gain computation - On both the issues ...

Pr. CIT Revises Assessment u/s 263 for A.O's Lapse on Capital Gains and Section 50C Applicability.

July 14, 2020

Case Laws Income Tax AT

Revision u/s 263 - Capital gain computation - On both the issues i.e (i). applicability of sec. 50C to the transfer transaction under consideration; and (ii). verification of cost of acquisition/improvement of the property in question, which had been adopted by the A.O as the A.O had failed to make necessary inquiries and verifications, therefore, the Pr. CIT in our considered view had rightly exercised his revisional jurisdiction u/s 263 of the Act.

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Revision u/s 263 - Capital gain computation - On both the issues ...

Pr. CIT Revises Assessment u/s 263 for A.O's Lapse on Capital Gains and Section 50C Applicability.

July 14, 2020

Case Laws Income Tax AT

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