Case Law Details
Case Name : Atul G. Puranik Vs. ITO (ITAT Mumbai)
Appeal Number : I.T.A. No. 3051/ Mum/2010
Date of Judgement/Order : 13/05/2011
Related Assessment Year : 2006-07
Courts :
All ITAT ITAT Mumbai
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Atul G. Puranik Vs. ITO (ITAT Mumbai)- Section 50C applies only to a capital asst, being land or building or both, it cannot be made applicable to lease rights in a land. As the assessee transferred lease right for sixty years in the Plot and not land itself, the provisions of sec.50C cannot be i
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