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2014 (9) TMI 497 - AT - Income TaxNature 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, and not to "purchase" - the provisions of Section 50C(1) of the Act are not applicable to the case of a purchaser - the legislature chooses its words with utmost care - When the words of a particular provision are explicit, clear and unambiguous, there is no room for interpretation and the legislative intent qua such a provision is not required to be gone into, as has been wrongly done by the CIT(A) in the present case - The section talks of 'consideration received or accruing'. Period. 'Consideration paid' cannot be imported, when the legislature has itself not deemed it fit to incorporate anything to such effect in the section - the addition made u/s 50C of the Act and order of the CIT(A) is cancelled – Decided in favour of assessee.
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