Determination of long term capital gain u/s 50C - The Tribunal ...

Taxpayer Entitled to Benefits on Capital Gains Due to Pre-Agreement Payment and Higher Declared Sale Consideration.

March 27, 2024

Case Laws Income Tax AT

Determination of long term capital gain u/s 50C - The Tribunal observed that the part payment of consideration was received by the assessee prior to the execution of the agreement to sale. Furthermore, the sale consideration declared by the assessee was significantly higher than the prevailing jantri rate at the time of the agreement. Therefore, the Tribunal held that the assessee was entitled to the benefit of the first and second provisos to Section 50C.

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Determination of long term capital gain u/s 50C - The Tribunal ...

Taxpayer Entitled to Benefits on Capital Gains Due to Pre-Agreement Payment and Higher Declared Sale Consideration.

March 27, 2024

Case Laws Income Tax AT

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