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Case Law Details

Case Name : Prakash Sadashiv Vs ITO (ITAT Pune)
Related Assessment Year : 2012-2013
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Shri Prakash Sadashiv Vs ITO (ITAT Pune)

ITAT Pune held that first and second proviso(es) to section 50C(1), inserted by the Finance Act 2016 w.e.f. 01.04.2017 being curative in nature inserted for removing hardships to the taxpayers and, therefore, it carries retrospective effect.

Facts- The assessee’s sole substantive grievance herein challenges correctness of both the lower authorities action making long term capital gains addition of 55,70,021/- in the course of sec.

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