Legal fiction u/s 50C cannot mean that deemed sale amount of property is actually received

ITAT CHANDIGARH Subash Chand Vs. Assistant Commissioner of Income Tax IT APPEAL NOS. 571 TO 573 (CHANDI.) OF 2011 [ASSESSMENT YEARS 2005- 06 TO 2007- 08] NOVEMBER 28, 2011 ORDER D.K. Srivastava, Accountant Member – The present bunch of appeals filed by the assessee is directed against three separate orders passed by the ld. CIT(A) on 30.3.2011 for assessment year 2005-06, 2006-07 and 2007-08. Major issues in all the three appeals are common. We therefore find it convenient to dispose off the present bunch of appeals by a consolidated order. 2. The assessee belongs to Pr...