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2021 (6) TMI 1058 - AT - Income TaxLong Term Capital Gains - addition invoking section 50C - transfer of the vendor s limited right in respect of land and building - HELD THAT - As assessee had sold / executed sale / transfer deed dated 14/2/2011 wherein the subject matter of her right is in favour of vendee as against any land or building component for issuing part therein - although the Revenue has sought to justify the impugned transfer of the assessees s right as an admission of the same being a capital asset the fact remains that we are dealing with section 50C only wherein the twin categories of capital asset(s) is only land and building than such a right. As decided in SMT. D. ANITHA 2015 (4) TMI 723 - ITAT HYDERABAD SRI TUMMALA VIDYAPAL REDDY 2016 (5) TMI 628 - ITAT HYDERABAD TARA CHAND JAIN AND VICA-VERSA 2015 (12) TMI 45 - ITAT JAIPUR SMT. DEVINDRABEN I. BAROT 2016 (7) TMI 275 - ITAT AHMEDABAD ad MRS. REKHA AGARWAL 2017 (4) TMI 759 - ITAT JAIPUR that such a transfer of the vendor s limited right in respect of land and building than the twin categories of assets as the case may be does not come within the purview of application of section.50C - thus delete the impugned Long Term Gains addition - Decided in favour of assessee.
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