Section 50B in The Mumbai Municipal Corporation Act, 1888
50B. Casual vacancies how to be filled up.
- In the event of non-acceptance of office ... acting, or of his office becoming vacant under the provisions of section 50A, the vacancy shall be filled up, as soon as conveniently
purposes of sections 48 and 49 .
What is "net worth" has been defined in Explanation 1 to section 50B to mean the
aggregate ... computation of capital gain is concerned.
(e) Sub-section (2) of section 50B makes it abundantly clear that the
undertaking or division as a whole
conditions
prescribed in Section 2(42C) were fulfilled and that it had rightly reported
the capital gains in terms of Section 50B ... first have a look at
the relevant provisions of Section 2(42C) and Section 50B of the Act,
which is extracted as under:-
" Section
conditions
prescribed in Section 2(42C) were fulfilled and that it had rightly reported
the capital gains in terms of Section 50B ... first have a look at
the relevant provisions of Section 2(42C) and Section 50B of the Act,
which is extracted as under:-
" Section
Dcit Cen Cir 1(4), Mumbai vs Grasim Industries Ltd, Mumbai on 9 September, 2025
Grasim Industries Limited,Mumbai vs Dcit, Cc-1(4), Mumbai on 9 September, 2025
IN
assets of chemical units as a slump sale u/s. 2(42C) read with
section 50B of the Act. For this, assessee has raised following ... determined in accordance with Sec. 50 read with Sec. 43(6)(c) for depreciable assets and for
stock its business income
section 2(42C) is to be regarded as sale for the purpose of I.T. Act and
LTCG is to be levied u/s. 50B ... 2005-06)
the provisions of section 2(42C) of the Act did not apply. Therefore, the
provisions of section 50B were also not applicable
u/s 48 (i) of the 1. T. Act, 1961 is not correct. As can
be seen from the sub- section 2 of Section 50B ... acquisition and
cost of improvement for section 48 and section 49 of the Act (clause
(2) under section 50B ). Thus there is no scope
u/s 48 (i) of the 1. T. Act, 1961 is not correct. As can
be seen from the sub- section 2 of Section 50B ... acquisition and
cost of improvement for section 48 and section 49 of the Act (clause
(2) under section 50B ). Thus there is no scope
