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Income Tax Case Laws - Section: 50C

 

Income Tax

Cases for Section: 50C
 
Showing 1 to 15 of 225 Records
 

2014 (10) TMI 747 - PUNJAB & HARYANA HIGH COURT

The Commissioner of Income Tax Versus Shri Gurdip Singh Sidhu

Applicability of section 50C - Cases of transfer of land or building where the transaction was not registered with the stamp duty valuation authority within the purview of section 50C or not - Valuation of agricultural land as on 1.1.1981 – Held that ......

2014 (10) TMI 710 - ITAT KOLKATA

Income-tax Officer Versus M/s. Onkarmal Kajaria Family Trust

Reference made u/s 55A - Transaction of immovable property against the actual deed of conveyance – Adoption of FMV as on 01.04.1981 - Computation of LTCG – Held that:- The long term capital gains arising out of transaction of this property will be as ......

2014 (10) TMI 608 - ITAT HYDERABAD

K. Rama Swamy, K. Amarnath, K. Ashok Kumar Versus Income Tax Officer

Computation of capital gain u/s 50C(1) – Adoption of FMV determined by the Stamp Valuation Authority for the purpose of stamp duty - Capital gains on sale of agriculture - land Held that:- Land sold is a capital asset as defined u/s 2(14) of the Act ......

2014 (10) TMI 542 - MADRAS HIGH COURT

A. Jesu Rajendran Versus The Commissioner of Income Tax

Maintainability of writ petition - AO rejected the request of assessee to refer the matter to DVO u/s 50C - alternative remedy - Held that:- As the purchaser, which was a Government concern, has not taken any steps u/s 47A of the Indian Stamp Act and ......

2014 (9) TMI 497 - ITAT AMRITSAR

Nitco Logistics Pvt. Ltd. Versus Joint Commissioner of Income Tax

Nature of receipts - Dharmarth Receipts OR not – Whether the provisions of Section 50C of the Act are applicable to the case of a purchaser also - Held that:- The income under the head "capital gains" is applicable to the sale of immovable property, ......

2014 (9) TMI 13 - MADRAS HIGH COURT

Appadurai Vijayaraghavan Versus The Joint Commissioner of Income Tax (OSD), Income Tax Department

Applicability of section 50C – Adoption of valuation made by DVO - Evidentiary value of registered document – LTCG on transfer of capital asset - Held that:- Relying upon S.Muthuraja V. CIT [2013 (8) TMI 40 - MADRAS HIGH COURT] -when an objection is ......

2014 (9) TMI 3 - MADRAS HIGH COURT

Mrs. Sakunthala Vedachalam, Mrs. Vanitha Manickavasagam Versus The Assistant Commissioner of Income Tax

Nature of land sold – Agricultural or not – Invocation of section 50C – Exemption of LTCG - Whether the lands sold by the assessees are agricultural lands and whether they are entitled to the benefit of exemption from capital gains tax – Held that:- ......

2014 (8) TMI 719 - ITAT MUMBAI

Asstt. Commissioner of Income Tax Versus M/s. Manubhai A. Sheth Larger (HUF)

Computation of LTCG on sale of two plots of land – Valuation of stamp duty – Held that:- Following the decision in Asst. Commissioner of IT. 12(1), Mumbai Versus M/s Manubhai A Sheth Larger HUF [2012 (9) TMI 682 - ITAT MUMBAI] - The property had alr ......

2014 (8) TMI 600 - DELHI HIGH COURT

CIT –XI Versus Mr. Lajpat Rai Taneja

Invocation of section 50C – Circle rate referred at starting point – Addition u/s 69 – Held that:- The difference between the circle rate and the amount paid was brought to tax as unexplained investment - Revenue has not relied upon Section 50C of th ......

2014 (8) TMI 61 - ITAT DELHI

Income Tax Offier Versus Shri Laxman Giri

Penalty u/s 271(1)(c) – Capital gains liability u/s 50C – Held that:- The calculation of capital gains was ‘nil’ and on this belief transaction was not disclosed in assessee’s return of income - the assessee became liable for capital gain and he offe ......

2014 (7) TMI 995 - ITAT JODHPUR

The Income Tax Officer Versus Shri Rama Gameti S/o- Shri Moti Lal Bheel

Assessment of income from sale of land – Benami property - Held that:- The AO made the addition in the hands of the assessee on protective basis - CIT(A) directed the AO to treat it in the hands of the assessee on substantive basis on the basis of th ......

2014 (7) TMI 867 - ITAT AGRA

Raj Kumari Agarwal Versus Deputy Commissioner of Income Tax Circle 2, Agra

Genuineness of sales consideration of land sold – Price lesser than circle rate as per section 50C – Held that:- The assessee has specifically objected to the adoption of stamp duty valuation rate - mere fact that the assessee has not challenged the ......

2014 (7) TMI 807 - ITAT HYDERABAD

Sri Ravi Saraff, Hyderabad Versus The Income Tax Officer

Reference made to DVO – sale of property - adoption of value as per stamp value u/s 50C - applicability of provision of section 50C to section 69 - Held that:- Procedure as per sec. 50C is to be adhered in its totality which mandated that in the even ......

2014 (7) TMI 468 - ITAT HYDERABAD

M/s. Keerthi Industries Limited, Hyderabad Versus Income Tax Officer Ward 11(3), Hyderabad

Claim of set off and brought forward of unabsorbed depreciation – Held that:- Following GENERAL MOTORS INDIA PVT. LTD Versus DEPUTY COMMISSIONER OF INCOME-TAX [2012 (8) TMI 714 - GUJARAT HIGH COURT] - current depreciation is deductible in the first p ......

2014 (7) TMI 384 - ITAT MUMBAI

The Income Tax Officer Versus Mrs. Devila Pankaj Shah

Determination of Fair market value of property – Computation of capital gain -Sale consideration u/s 50C(2) - cost of acquisition as on 01.04.81 - value taken for wealth-tax purposes can be followed for capital gains purposes or not - Held that:- The ......

 
   
 
 
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