disputed by the assessee on grounds mentioned in sub-section (2) of section 50C, the Assessing Officer may refer the valuation of such property ... disputed by the assessee on grounds mentioned in sub-section (2) of section 50C, the Assessing Officer may refer the valuation of such property
proceedings under Section 47A of the Indian Stamp Act. The Assessing
Officer was bound to follow the sub-section (1) of section 50C ... section (1) and sub-sections (6) and (7) of
section 23A, sub-section (5) of section 24 , section 34AA, section
35 and section
from
1stApril 2003 and the proviso insertedto sub
sub-section
section 1 of Section
50C by the Finance Act, 2016 effect from 1stApril 2017
withreferencetosection45 ... stage of computation that section 50C of the Act comes into
action. Having discussed the provisions of sections 50C , 45 , & 48 of
the Income
application of Section 50C, transfer of assets U/s
2(47)(v), applicabilty of Section 50C and year of assessability ... These
agreement were made prior to insertion of section 50C in the statute,
therefore, Section 50C is not applicable on these transactions made on
agreement
section itself. If the assessee claims before Assessing Officer that the value adopted or
assessed or assessable by the stamp valuation authority under sub-section ... Sunil Kumar Agarwal (supra) held as under:
"As per Section 50C "................Assessing Officer."
Other ITAT
Sarwan Kumar v. ITO [2014] 45 taxmann
section itself. If the assessee claims before Assessing Officer that the value adopted or
assessed or assessable by the stamp valuation authority under sub-section ... Sunil Kumar Agarwal (supra) held as under:
"As per Section 50C "................Assessing Officer."
Other ITAT
Sarwan Kumar v. ITO [2014] 45 taxmann
objections as required under Sub Section 2 of Section 50C
of the Act. The Learned Assessing Officer was bound to provide under ... laid down under Sub- section 2 of Section 50C of the Act.
The Appellant submits that the application of Section 50C of the Act arises
that the word "or assessable" inserted after the words "adopted or
assessed" in sec. 50C of the Act by the Finance ... Thus, the
11
expression "assessable" was inserted after the term "adopted or assessed" in
sec. 50C
section (1) and Sub-sections (6) and (7) of Section 23A, Sub-section (5) of Section 24 , Section 34AA, Section 35 and Section ... provisions of Section 50C(2) are on the lines of Section 55A with certain modifications.
8. Sub-section (3) of Section 50C is applicable where
firm view that the insertion of words "or assessable" by amending Section 50C with effect from 01.10.2009 is neither a clarification ... assessed", such transfers where the value assessable by the stamp valuation authority are also brought into the ambit of Section 50C . Thus such introduction
