Case Law Details
Case Name : Vanraj Ranchhoddas Merchant Vs ITO (ITAT Mumbai)
Related Assessment Year : 2011-12
Courts :
All ITAT ITAT Mumbai
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Vanraj Ranchhoddas Merchant Vs ITO (ITAT Mumbai)
Section 50C Can’t Tax Life Interest: ITAT Mumbai Deletes Addition on Assignment of Trust-Based Life Interest
Mumbai ITAT allowed the appeal of Vanraj Ranchhoddas Merchant (through legal heir) for AY 2011-12 and held that section 50C is not applicable to transfer of a mere life interest in immovable property held under a trust
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