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Income Tax Case Laws - Section: 50C


Income Tax

Cases for Section: 50C
Showing 1 to 15 of 217 Records

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 ......

2014 (6) TMI 732 - ITAT HYDERABAD

Dy. CIT, Cir-16(2), Hyderabad Versus M/s. Mekins Agro Products Ltd.,

Accrual of capital gain - additions during remand proceedings - property given for development of a multi-storied under the development agreement - Receipt from sale of floor space – under valuation - applicability of section 50C - Held that:- Follow ......

2014 (6) TMI 495 - ITAT HYDERABAD

Mekins Agro Product(P) Ltd. Versus Income-tax Officer

Invocation of section 50C of the Act – Verification of sale deeds - Understated sale consideration – Cost of acquisition – Held that:- The AO and the CIT(A) has brought to tax the capital gains arising from both the transaction viz., the development ......


Commissioner of Income Tax Versus M/s. Gujarat Nre Coke Limited.

Disallowance of loss of foreign exchange fluctuation – Held that:- The Tribunal was rightly of the view that the increase or decrease in the value of the foreign loan would also be taken into account to modify the figure of actual loan in the year in ......

2014 (6) TMI 222 - ITAT CHENNAI

Shri. M. Kandasamy And Others Versus The Income Tax Officer

Rejection of sale consideration – Computation of LTCG – Valuation u/s 50C made by AO – Held that:- The assessees had sold two properties to M/s. Ponmudi Muthusamy Gounder Trust – CIT(A) has dismissed the appeals of the assessees on the ground that th ......

2014 (6) TMI 143 - ITAT MUMBAI

Victor Zachrias Pinto Versus The ITO Wd 4(4), Thane

Determination of LTCG as per section 50C of the Act – Valuation of property – Held that:- The assessee has filed a valuation report in support of his claim that the value adopted by the stamp duty valuation authority is on the higher side - the asses ......


Sunil Kumar Agarwal Versus Commissioner of Income Tax, Siliguri

Reference made to valuation officer u/s 50C(2) of the Act – Claim of exemption u/s 54EC of the Act - Sale consideration received is fully invested in bonds notified - Held that:- The valuation by the departmental valuation officer, contemplated u/s 5 ......


The Commissioner of Income Tax And Another Versus Late Bhakt Mohan L/H Smt. Urmila Mohan C/o. Smt. Nishi Gupta

Power to invoke section 263 of the Act – Valuation of property – Compliance of section 50C of the Act - Held that:- The Tribunal is right in saying that the CIT in its order has referred the contents of the notice and details relating to the valuatio ......

2014 (5) TMI 71 - ITAT AGRA

Income-tax Officer, Versus Shri Haresh Chand Agarwal, HUF, Agra

Validity of re-assessment proceedings u/s 147/148 of the Act - full value of consideration u/s 50C of the Act - Held that:- There is no material available with the AO to form his opinion that income has escaped assessment - All material evidences wer ......

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