Capital gain - Additions made u/s 50C - by no stretch of ...

Income Tax

May 1, 2021

Capital gain - Additions made u/s 50C - by no stretch of imagination, without making any sport physical verification, two piece of land can be compared to work out the fair market value. The assessing officer has simply borrowed the finding of CIT(A)-IV, Surat, without seeing its relevance or reference and applied the fair market value on the assessee’s land. No addition under section 50C can be made in absence of any evidence. - AT

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Capital gain - Additions made u/s 50C - by no stretch of ...

Income Tax

May 1, 2021

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