Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (3) TMI 52 - AT - Income TaxShort-Term capital gain u/s 50 - sale of factory building and structure constructed on the lease hold land - payment of additional stamp duty - non application of section 50C as the depreciating asset was transferred contented by assessee - Held that:- However, ld.CIT(A) has concluded that section 48 & 49 of the Act would have application on the facts of the present case. We find that as per section 50, the provisions of section 48 & 49 shall be subjected to certain modification. This aspect has not been considered by the ld.CIT(A) while deciding the issue. Therefore, this issue is restored to the file of ld.CIT(A) for decision afresh in accordance with provisions of law. - Decided in favour of assessee for statistical purposes. Claim of Indexation on long term capital gain on sale of land - additional ground raised - Held that:- Since this is a legal issue and the same is raised first time before this Tribunal, therefore the ground is admitted and restored back to the file of ld.CIT(A) for decision afresh in accordance with law. Thus, this additional ground raised by the assessee is allowed for statistical purposes.
|