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Income Tax - Highlights / Catch Notes

Home Highlights October 2022 Year 2022 This

Applicability of provisions of section 50C - Sale of ...

Income Tax

October 18, 2022

Applicability of provisions of section 50C - Sale of undetermined beneficial rights in the land - There cannot be any substitution of stamp duty value as the full value consideration in terms of Section 50C of the Act in the instant case. This fact is also strengthened by the fact that assessee has also offered capital gains in the return of income as sale of rights in land has been transferred. - AT

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  1. 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...

  2. Applicability of Section 50C of the Act - sale of development rights are not subject to section 50C i.e stamp valuation - AT

  3. Applicability of section 50C of the Income tax act on trading transaction of sale and purchase of land - Section 50C is not applicable during the relevant assessment year - HC

  4. Long Term Capital Gain on sale of lease hold property by the assessee - provisions of section 50C of the Act cannot be invoked in respect to the transfer of leasehold rights - AT

  5. 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...

  6. Transaction of transfer of tenancy rights - whether the impugned transfer of tenancy rights attracts the provisions of section 50C - held No. - AT

  7. Long Term Capital Gain on surrender of tenancy right - applicability of provisions of Sec. 50C - assessee is a non-resident individual - provisions of Sec. 50C are not...

  8. 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...

  9. Loss arising from sale of subject land - Section 50C applicability - the assessee had certain rights under the agreement - from the clear plain and unambiguous language...

  10. Provisions of section 50C of the Act cannot be invoked to compute the capital gains arising on transfer of leasehold rights - AT

 

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