This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Section 50C not applicable on Right to Purchase a Building
Case Law Details
- Case Name
- Sh. Anil Jain Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2009-10
- Courts
- All ITAT, ITAT Delhi
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Sh. Anil Jain Vs DCIT (ITAT Delhi)
On perusal of the provisions of Section 50C(1) of the Act is evident that prior to 1/10/2009, Section 50C was applicable only in a case where the value was adopted or assessed by the Stamp Valuation Authority. The word “assessable” has been inserted by the Finance (No.2) Act, 2009 w.e.f. 01/10/2009. This means, if any property has been transferred through agreement to sale or otherwise, without registration with the Stamp Valuation Authority prior to 01.10.2009, the deeming fiction provided under section 50C(1) of the Act would not apply. However, if the ...
