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Section 50C of the Income Tax Act

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AO Fails to Verify FMV with Valuation Officer u/s 50C(2) upon Taxpayer’s Dispute: ITAT Invalidates STCG Addition [Read Order]
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Section 50C can be applied only to Capital Assets not to Leasehold Rights: ITAT [Read Order]
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ITAT confirms Rs. 1.45 Crore Income Tax Addition as Short-Term Capital Gain in Taxpayer’s Non-Agricultural Land Sale [Read Order]
June 12, 2024
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Property Sale Consideration not grounds for inaccurate Income Particulars: ITAT deletes Penalty u/s 271 (1) (c) of Income Tax Act [Read Order]
March 7, 2024
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Failure to refer matter to Departmental Valuation Officers for Assessing Fair Market Value of Land Property: ITAT Partly allows Appeal [Read Order]
February 24, 2024
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ITAT Weekly Round Up
October 16, 2023
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