#section 50C
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559 articlesIncome Tax

Income Tax
Allotment letters should be considered as ‘agreement to sell’ for section 56(2)(x)
Income Tax

Income Tax
Section 50C provision not applicable to section 54F exemption calculations
Income Tax

Income Tax
Insertion of first and second proviso to section 50C(1) being curative in nature has retrospective effect
Income Tax

Income Tax
Deeming fiction of section 50C doesn’t apply in case of purchaser
Income Tax

Income Tax
Invocation of deeming provisions of section 50C without referring to Departmental Valuation Officer is unjustified
Income Tax

Income Tax
Penalty u/s 271(1)(c) not leviable as addition made on account of difference of opinion
Income Tax

Income Tax
Immovable Property Sold at less than Stamp Duty Value – Tax Impact on Seller
Income Tax

Income Tax
Section 50C not applies to Agricultural Land
Income Tax

Income Tax
Indexation from date of acquisition by previous owner available in case of transfer of asset under will
Income Tax

Income Tax
Non-compliance inspite of repeated notices led to gross negligence hence cost of Rs. 2,000/- imposed
Income Tax

Income Tax
Capital gain on sale of land covered u/s 50C of Income Tax Act is to be assessed separately
Income Tax

Income Tax
Sale of property held with commercial intent taxable as business income, Section 50C inapplicable
Income Tax

Income Tax
Penalty u/s 271(1)(c) not imposable for application of section 50C of Income Tax Act
Income Tax

Income Tax
