Insertion of words ‘or assessable’ by amending section 50C is effective from 1-10-2009

HIGH COURT OF MADRAS Commissioner of Income-tax -I, Coimbatore Versus R.Sugantha Ravindran Tax Case (A) No. 21 of 2010 MARCH  6, 2013 JUDGMENT K. Ravichandrabaabu, J.  The Revenue is on appeal in respect of the assessment year 2005-2006. The following is the substantial question of law that arise for consideration of this Court in this appeal: “Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in law in holding that the provisions of Section 50C can be invoked in the case where the sale of the property has not bee...