Capital gain computation - justification in adopting the value ...

Section 50C Inapplicable: Health Issues and Mortgage Affect Property Sale Below Market Value for Capital Gains Calculation.

May 6, 2020

Case Laws Income Tax AT

Capital gain computation - justification in adopting the value u/s. 50C - property not sold for the market rate - when the assessee mortgaged property to Catholic Syrian Bank and could not effectively negotiate for sale of property due to Kidney failure of one of the assessee, the provisions of s. 50C of the Act not be applicable.

View Source

← Previous Next →

Capital gain computation - justification in adopting the value ...

Section 50C Inapplicable: Health Issues and Mortgage Affect Property Sale Below Market Value for Capital Gains Calculation.

May 6, 2020

Case Laws Income Tax AT

You may also like:

Capital gain in respect of sale of only one property - addition u/s 50C - assessee itself had leasehold rights in the said property and hence in instant facts, the...

Addition applying the provisions of section 50C - Once the assessee has raised the objection against the adoption of deemed full value consideration in terms of section...

Sale of property - adoption of value as per stamp value u/s 50C - applicability of provision of section 50C to section 69 - AO should have referred the issue of...

Applicability of section 50C - Capital gain - Sale of right in land/contingent right - proof of transfer of capital asset - Section 50C is also applicable on lease hold...

Addition as short term capital gain by invoking the provisions of section 50C - difference between the declared sale consideration and the market value is within the...

The provisions of Section 56(2)(vii)(b) read with Section 50C cannot be invoked as the difference between the Fair Market Value (FMV) determined by the District...

Deduction u/s 54F - LTCG - quantum of investment to be made in the New House Property - Actual consideration or Value or transferred property determined as per Section...

Levy of penalty u/s 271(1)(c) - failure to take stamp duty value of property u/s 50C being land and building for sale - From a clear distinction between sale...

Recovery of VAT from the purchaser of property in Auction - Attachment of mortgaged properties - It is hereby declared that the respondent No.2 had the first charge over...

Owner of suit property - joint ownership - legality and validity of the power of attorney and the sale deeds - the sale deeds will have to be held as void being executed...

Capital gain computation - right in land or building - stamp duty valuation - invoking of Section 50C - the present transaction of six properties in question does not...

Reopening of assessment u/s 147 for assessing Long Term Capital Gain on sale of land in Financial Year 2005-06. Assessing Officer (AO) adopted full value consideration...

HC affirmed plaintiff's status as exclusive first charge holder over two properties, declaring subsequent mortgages voidable. The court found that defendant nos. 2 and 3...

Distress sale - fraudulent registration of same property to another persons who has no right or title over the property - adoption of stamp value u/s 50C as sales...

Computation of LTCG u/s. 50C - leasehold right on land acquired - valuation of properties - The ITAT meticulously analyzed the nature of leasehold versus freehold...

Quick Updates: