Section 50C not applies if Assessee invests entire sale consideration in new house property U/s. 54F

ITO Vs Raj Kumar Parashar (ITAT Jaipur)

Firstly, it is not in dispute that the AO has rightly taken the full value of consideration as determined by the stamp duty authorities as per explicit provisions of section 50C of the Act and has determined the long term capital gains of Rs 94,60,800 after providing indexed cost of acquisition.

The limited contr

Please become a Premium member. If you are already a Premium member, login here to access the full content.