Section 50C not applicable on Right to Purchase a Building

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 deemi

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