Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (10) TMI 295 - ITAT AHMEDABADCapital gain computation - CIT (A) adapting the Jantri value as against taken by assessee in the return of income by applying section 50C - HELD THAT:- Assessee at one point states that Sec. 50C is not applicable at the same time saying that it should be applied in consonance to Sec. 48 of the Act, which are contrary to assessee’s stand. Therefore, the CIT(A) rightly observed that the assesse filed objection to the sub registrar, therefore provisions of Section 50C (2) of the Act is not applicable and held that the Assessing Officer rightly adopted the jantri rate. As regards to the claim of Section 54 of the Act, the CIT(A) has allowed the said claim. Hence, there is no need to interfere with the findings of the CIT(A). Assessee appeal dismissed.
|