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2013 (12) TMI 721 - ANDHRA PRADESH HIGH COURTWhether land and building are to be treated as separate assets for the purpose of section 50C - Held that:- The interpretation of Section 50C of the Act is ascertained by the Court - On analysis of sub-section (1) it appear that there must be a transfer of a capital asset, which means, the land or building or both - The consideration received or accrued on the transfer is less than the value adopted or assessed or assessable by an authority of the State Government on which the stamp duty is paid - If the valuation adopted by the Stamp Valuation Authority is more than the consideration received, then such value has to be treated as the full value of the consideration received or accrued for the purpose of Section 48 - Land and building has to be valued combining together and taking into consideration the valuation adopted by the Sub Registration Authority or by the report of the Departmental Valuation Officer - Decided against assessee.
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