Word ‘assessable’ inserted in section 50C w.e.f. 01/10/2009

Smt. Alka Jain Vs ACIT (ITAT Delhi) Word ‘assessable’ has been inserted in section 50C w.e.f. 01/10/2009 Provisions of section 50C the word “ assessable” after the word “ assessed” has been inserted with effect from 01/10/2009. According to the learned Counsel, the word “assessable” inserted in section 50C with effect from 01/10/2009 is prospective and not applicable in the case of the assessee as the property has been transferred by way of agreement to sell dated 01/04/2009 and the property had not been registered nor evaluated for the purpose of the stamp duty by the ...