Capital gain Computation - Stamp duty valuation u/s 50C - Once ...

Case Laws Income Tax

January 18, 2021

Capital gain Computation - Stamp duty valuation u/s 50C - Once legislature very graciously accepts, by introducing the legal amendments in question, that there were lacunas in the provisions of Section 50C in the sense that even in the cases of genuine variations between the stated consideration and the stamp duty valuation, anti-avoidance provisions under section 50C could be pressed into service, and thus remedied the law, there is no escape from holding that these amendments are effective with effect from the date on which the related provision, i.e., Section 50C, itself was introduced. These amendments are thus held to be retrospective in effect. - AT

View Source

← Previous Next →

Capital gain Computation - Stamp duty valuation u/s 50C - Once ...

Case Laws Income Tax

January 18, 2021

You may also like:

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...

Long-term capital gain - cost of acquisition - capital gain worked out by the DVO - They have calculated the long-term capital gain simply by taking into consideration...

Capital gain computation - addition invoking the provisions of the Section 50C - the legislature used the words and expressions in Section 50C of the Act consciously to...

Capital gain computation - stamp duty valuation adopted by authorities - Since the assessee is disputing the value adopted by government authorities for levy of stamp...

Addition u/s 50C - Capital Gains - For the purposes of third proviso to S. 50C(1) of I.T.Act; the valuation of the property by DVO has no relevance; and what is material...

The Appellate Tribunal addressed the issue of the retrospective or prospective application of amended provisions of Section 50C regarding Capital Gain computation....

Capital gain computation on the basis of stamp duty valuation of the property in question - invoking section 50C - Since there is a gap of 3 years between MOU and...

Capital gain computation - Sale consideration should be restricted to stamp duty valuation as against the Fair Market value determined by the DVO - transfer price for...

Capital gain computation - right in land or building - stamp duty valuation - invoking of Section 50C - the present transaction of six properties in question does not...

The assessee purchased agricultural land whose stamp duty valuation was lower than the actual purchase consideration. The authorities sought to invoke section 56(2)(x)...

The Appellate Tribunal considered the applicability of u/s 50C regarding capital gain computation for the transfer of leasehold rights. It was held that u/s 50C applies...

Computation of capital gain - determination of deemed sale consideration under section 50C - CIT(A) accepted contentions of the assessee - part payment makes it clear...

The case pertains to the applicability of Section 50C of the Income Tax Act in determining the full value of consideration for computing capital gains in the hands of...

Computation of capital gain - 'real' capital gains V/S presumptive capital gains - Assessee cannot be denied an opportunity to raise his objections even against the...

Levy of penalty u/s 271(1)(c) - Computation of capital gain - assessee cannot be made subject levy of penalty under section 271(1)(c) of the Act merely for reason that...

Quick Updates: