![Section 50C can be invoked in the Year in which Sale taken Place: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/10/Cross-Examination-ITAT-Taxscan.jpg "Section 50C can be invoked in the Year in which Sale taken Place: ITAT [Read Order]")
Section 50C can be invoked in the Year in which Sale taken Place: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Delhi has held that the provisions of section 50C of the Income Tax Act, 1961 can be invoked in the year...
![Reference of Matter by AO to DVO for valuation of Property is Not Mandatory: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/06/ITAT-Agra-Taxscan.jpg "Reference of Matter by AO to DVO for valuation of Property is Not Mandatory: ITAT [Read Order]")
![Fair Market Value of Property applicable from the Date of Execution of Agreement to Sale: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/07/Agreement-Taxscan.jpg "Fair Market Value of Property applicable from the Date of Execution of Agreement to Sale: ITAT [Read Order]")
![If Land is treated as Stock-in-Trade, S. 50C does not Apply: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/Agricultural-Land.jpg "If Land is treated as Stock-in-Trade, S. 50C does not Apply: ITAT [Read Order]")
![No Penalty when Addition is made by Invoking Deeming Provisions: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Penalty-Tax-Scan.jpg "No Penalty when Addition is made by Invoking Deeming Provisions: ITAT [Read Order]")
![Sec 50C not applicable in Case of a Right to Purchase a Building: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/Purchase-Building-Taxscan.jpg "Sec 50C not applicable in Case of a Right to Purchase a Building: ITAT [Read Order]")
Sale Consideration on Agricultural Land after its Conversion to Non-Agricultural Land is Business Income, S. 50C can’t be invoked: ITAT [Read Order]
The ITAT bench comprising Pramod Kumar (AM) and S. S. Godara (JM) recently confirmed that the sale consideration on agricultural land after its conversion to non-agricultural Land constitutes business...
![Sale Consideration on Agricultural Land after its Conversion to Non-Agricultural Land is Business Income, S. 50C can’t be invoked: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/Sale-Consideration-Business-Income-Taxscan.jpg "Sale Consideration on Agricultural Land after its Conversion to Non-Agricultural Land is Business Income, S. 50C can’t be invoked: ITAT [Read Order]")
Addition in respect of Capital Gain Income can’t be made when Assessee not sold Property and Just Signed as a Confirming Party: ITAT [Read Order]
The Jaipur bench of ITAT recently ruled that the addition in respect of Capital Gain Income can’t be made when Assessee not sold the property and just signed as a confirming party. The bench including...
![Addition in respect of Capital Gain Income can’t be made when Assessee not sold Property and Just Signed as a Confirming Party: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/07/Capital-Gain-Tax-Taxscan.jpg "Addition in respect of Capital Gain Income can’t be made when Assessee not sold Property and Just Signed as a Confirming Party: ITAT [Read Order]")
ITAT deletes Addition Applying Sec 50C since Assessee has not Received any Consideration from Sale [Read Order]
While allowing the appeal filed by the assessee for statistical purposes, the Hyderabad bench of Income Tax Appellate Tribunal (ITAT) deleted the addition by applying deemed provisions of Section 50C...
![ITAT deletes Addition Applying Sec 50C since Assessee has not Received any Consideration from Sale [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Ahmedabad.jpg "ITAT deletes Addition Applying Sec 50C since Assessee has not Received any Consideration from Sale [Read Order]")
![Penalty can’t be Levied for Applying Deemed Provisions of Sec 50C: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/12/No-Penalty-Taxscan.jpg "Penalty can’t be Levied for Applying Deemed Provisions of Sec 50C: ITAT [Read Order]")
Sec 50C cannot be invoked in case of a distress Sale where Land was transferred to a Govt Company: ITAT [Read Order]
Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has recently held that section 50C of the Income Tax Act, 1961 cannot be invoked in case of a distress sale where the assessee transferred land...
![Sec 50C cannot be invoked in case of a distress Sale where Land was transferred to a Govt Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Kolkata-TaxScan.jpg "Sec 50C cannot be invoked in case of a distress Sale where Land was transferred to a Govt Company: ITAT [Read Order]")
Not SRO, Cost of Construction of Flats by Builder must be treated as Sale Consideration of the Land Owner for Computing Capital Gain: ITAT
In a significant ruling, the ITAT, Hyderabad bench held that for computing Long Term Capital Gain of an assessee who transferred his land under a Joint Development Agreement, the cost of construction...
