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2022 (4) TMI 1171 - AT - Income TaxComputation of capital gains - whether Ld. CIT(A) was correct in granting the benefit of proviso to Sec.50C(1) to the assessee during this year? - HELD THAT:- This proviso has been inserted by Finance Act, 2016 w.e.f. 01.04.2017. We find that the proviso has been held to be retrospective in nature by Hon’ble Madras High Court in CIT V/s Vummudi Amarendran [2020 (10) TMI 517 - MADRAS HIGH COURT] In the present case, the genuineness of sale agreement is not in doubt and the earlier payments have been received through cheques. Therefore, respectfully following the binding judicial precedent, we confirm the impugned order and dismiss the appeal of the revenue.
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