Provisions of section 50C cannot be incorporated in computation of block of assets

DCIT Vs Futurz Next Services (Private) Limited (ITAT Delhi)

On careful consideration, the fact that emerges that during the year the assessee has received the total sale consideration of ₹ 2 crores only 11/7/2012 and five shares of that society has also been transferred prior to execution of the sale deed. The sale deed was executed on 12/7/2012. Thus it is apparent that full value of the consideration was received by the assessee before executing sale deed on 12/7/2012. Merely because the seller agreed to pay and discharg

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