Section 50C not applicable on sale of rights in property through POA without stamp valuation

CIT Vs. Satya Dev Sharma (Rajasthan High Court)

Assessee entered into a purchase agreement for purchase of a land and later transferred all the rights acquired under the power of attorney for certain consideration, AO applied section 50C and enhanced short-term capital gains of assessee which was not justified since section 50C was not applicable in this scenario as there was no stamp valuation.

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