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2011 (11) TMI 352 - AT - Income TaxValidity of invoking provisions of Section 50C – entire amount of consideration invested in bonds in view of provisions of section 54EC - sale consideration is low in comparison to value adopted for imposing stamp duty – Held that:- The meaning of full value of consideration in Explanation to section 54F(1) will not be governed by meaning of word of full value of consideration as mentioned in Section 50C. The value adopted for stamp duty is to be considered as full value of consideration for the purpose of computing the capital gains u/s 48 only. In instant case, entire amount of sale consideration has been invested in Bonds therefore, provisions of section 50C cannot be invoked as held in case of Gyan Chand Batra(2010 - TMI - 204293 - ITAT JAIPUR). Accordingly the addition made is deleted – Decided in favor of assessee.
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