ITAT Bangalore: Section 50C Proviso Held Retrospective; MOU Date to Apply

Bellandur Chikkagurappa Jayaramareddy Vs ACIT (ITAT Bangalore) Proviso to Section 50C Held Retrospective – ITAT Bangalore Rules Capital Gain to Be Computed on MOU Date, Not on Registration Date Assessee, an individual landowner, entered into a Joint Development Agreement (JDA) on 01.03.2013 with Bren Corporation for his property at   Bengaluru. Subsequently, on 08.04.2013, he entered into an MOU to exchange this land (“Property A”) with the developer’s commercial complex “Bren Zion” (“Property B”). A registered exchange deed was later executed on 24.02.2014, based on a stamp ...