capital asset within the meaning of this
section.
lssue-2:- Provisions of section 50C are applicable to capital asset ... section 23A, sub-section (5) of section 24 , section 344A, section 35
and section
erred
in upholding the disallowances made by Ld. AO u/s 43CA of the Act amounting
to Rs. 3,26,342/- without considering the submissions ... provisions of sub-section (2) and sub-section (3) of section 50C shall,
so far as may be, apply
which
is 8.99% of her turnover.
Sub section (1) to the Section 44AD provides that " Notwithstanding
anything to the contrary ... accounts to be audited u/s 44AB of the Act,
compulsory.
If any assessee covered u/s 44AD , provision of section
Hiteshbhai H Shah depositor had simply disclosed
earlier which was income u/s 44AD of the Act
received back and the without specifying the name ... possess any depositor had simply disclosed
evidence to submit. income u/s 44AD of the Act
Amount in received without specifying the name
purpose of section 54F has to be worked out applying section
5
48 without imposing section 50C into ... representative, if the terms capital gains "in section 54F introduced section
50C of the Act would be defeated, because whatever
Shaligram Borad
V.ACIT
The first and second proviso to
section 50C(1) of the Income Tax
Act was inserted ... account payee cheque. Thus, as per amended proviso of section 50C
of the Act the guideline value as on the date of agreement
specific reference to facts of
case nor application of section 50C - Whether thus, view adopted by
Assessing Officer being clearly unsustainable ... held by Hon'ble ITAT that the provisions of section 50C are deeming
provisions and mandatory in nature. The application of such
Acit Central-2, Bhopal vs Shri Sanjeev Agrawal, Bhopal on 9 May, 2023
IN THE
after due date of
filing of return u/s 139 and the applicability of section 50C ignoring
that all these 3 issues ... indexed cost of
improvement, claim of deduction u/s 54F and non applicability
of section 50C supported by the case laws was filed
rate without
allowing further expenditure. The provisions of section 44AD are relevant on this
point which provides the estimation of profits from ... assessee before us. Thus the provisions of section 44AD can be taken as a
guidance for estimation of the income of the assessee
