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Section 50C: Sale value approved by Charity Commissioner had to be followed in case of Trust’s Sale Deed
Case Law Details
- Case Name
- DCIT Vs. Saifee Jubiee High School & Madressa Yusufiyan Society (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2010- 2011
- Courts
- All ITAT, ITAT Ahmedabad
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DCIT Vs. Saifee Jubiee High School & Madressa Yusufiyan Society (ITAT Ahmedabad)
This Revenue’s appeal and assessee’s cross objection for assessment year 2010-11 arise against the CIT(A), Gandhinagar’s order dated 22.05.2014, in case no. CIT(A)/GNR/2 12/2013-14, reversing Assessing Officer’s action making long term capital gains addition of Rs. 70,34,635/- by invoking Section 50C of the Act, in proceedings u/s. 143(3) of the Income Tax Act, 1961; in short “the Act”.
Heard both the parties. Case file perused.
2. We advert to rival pleadings first. The Revenue’s sole substant...
