Amendment to provisions of section 50C(1) is retrospective in nature

Anupama Krishna Rao Premaraju Vs ITO (ITAT Hyderabad)

ITAT Hyderabad held that amendment to provisions of section 50C(1) of the Income Tax Act is retrospective in nature and hence the value adopted or assessed or assessable by the Stamp Valuation Authority on the date of agreement has to be taken for the purpose of full value of the consideration.

Facts- The assessee is a Non-resident Individual. The assessee has accrued income on account of capital gains which has escaped

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