Leasehold Right in Land or Building or both is Transferred, Provisions of Section 50C cannot be Invoked: ITAT [Read Order]

Leasehold Right - Land - Building - Section 50C - ITAT - Taxscan

The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) has held that leasehold right in land or building or both is transferred, and provisions of Section 50C cannot be invoked. The appellant, Bharat Bhushan Jain, disclosed sale consideration only Rs.19,00,000/- while computing the capital gain on the transfer of property, against which the…

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