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Income Tax Case Laws - Section: 50C


Income Tax

Cases for Section: 50C

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Showing 16 to 30 of 241 Records

2014 (10) TMI 783 - BOMBAY HIGH COURT

Commissioner of Income Tax Versus M/s. Fortune Hotels And Estates Pvt. Ltd.

Penalty u/s 271(1)(c) – Addition of deemed income u/s 50C - Whether the Tribunal was right in holding that the penalty cannot be imposed with reference to addition of deemed income u/s 50C – Held that:- The Tribunal was rightly of the view that this ......


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, ......


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 ......


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 ......



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