#section 50C
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592 articlesIncome Tax
Income Tax
Orders u/s 263 could be passed only after taking into consideration explanation offered by the Assessee
Income Tax
Income Tax
Valuation u/s 50C should be Preferably handed to the Valuation Officer in the event of dispute
Income Tax
Income Tax
Sec 50C(2) Mandates reference to DVO for ascertaining fair market value of property
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If net consideration for transfer of capital asset of a charitable trust is utilized for acquiring new capital asset, then whole of capital gain is exempt
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Income Tax
s. 50C – Circle-rate prevailing on the date of execution of sale deed is relevant & not the rate on registration date
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Mere Invoking sec 50C not amounts to concealment or furnishing inaccurate particulars of income
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Tax on Sale of Immovable Properties Vis-A-Vis Deemed Valuation U/s. 50C
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Addition U/s. 50C for mere variance with Stamp Duty Valuation without investigation not justified
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Income Tax
Reference to DVO cannot be made if assessee has challenged the valuation by stamp authorities
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Income Tax
Deeming fiction created by virtue of sec. 50C cannot be extended to sec. 11(1A)
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Income Tax
No penalty for mere failure to compute capital gains U/s. 50C
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Income Tax
Sec. 50C AO must refer the valuation to DVO despite no request by assessee
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Income Tax
Sec. 54EC on Depreciable Assets & One Crore Exemption
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Income Tax
