TMI BlogLTCG invoking the provisions of Section 50C - property transferred through Sale Deed claim as gift - The...LTCG invoking the provisions of Section 50C - property transferred through Sale Deed claim as gift - The transaction has been held to be gift in the hands of the daughter, the transferee, and therefore it should be held so in the case of the assessee also is not tenable because in case of the daughter the consideration as per stamp duty valuation is not taxable as per proviso to section 56(2)(vii). However, the provisions of capital gains taxation and the income from other sources are independen..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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