disputed by the assessee on grounds mentioned in sub-section (2) of section 50C, the Assessing Officer may refer the valuation of such property ... meaning assigned to it in the Explanation 2 to sub-section (2) of section 50C; (b) "fair market value" of a property, other than
50C in The Income Tax Act, 1961
50C. [ Special provision for full value of consideration in certain cases. [Inserted by Act 20 of 2002, Section
full value of the consideration.] [ Inserted by Act 18 of 2005, Section 14 (w.e.f. 1.4.2006).] [Provided further that in case of transfer ... crore rupees.] (2) The provisions of sub-section (2) and sub-section (3) of section 50C shall, so far as may be, apply in relation
Section 20 in The Finance Act, 2018
20. Amendment of section 50C.
- In section 50C of the Income-tax Act, in sub-section (1), after
section 43CA, section SOC and section 56
16 .1 Before amendment by the Act, for computing income from business profits
(section 43CA), capital gains (section ... case of genuine transactions in the real
estate sector, section 43CA, section 50C and section 56 of the Income-tax Act
have been amended
section (1) and Sub-sections (6) and (7) of Section 23A, Sub-section (5) of Section 24 , Section 34AA, Section 35 and Section ... lines of Section 55A with certain modifications.
8. Sub-section (3) of Section 50C is applicable where the value ascertained by the DVO exceeds
first appeal, the assessee made various submissions including the inapplicability of Section 50C to the facts of the case. The learned ... material on record. The learned Authorised Representative has vehemently argued that Section 50C is not applicable to this case as the sale was made through
Tribunal was right in law in holding that the provisions of Section 50C can be invoked in the case where the sale of the property ... agreement of sale, by invoking the provisions of Section 50C of the Income Tax Act, the assessing officer computed the long term capital gain
Section 10 in Finance Act, 2013
10. Insertion of new section 43CA.
- After section 43 C of the Income-tax Act, the following section shall ... such transfer. (2) The provisions of sub-section (2) and sub-section (3) of section 50C shall, so far as may be, apply in relation
Section 17 in Finance Act, 2012
17. Insertion of new section 50D.
- After section 50C of the Income-tax Act, the following section shall
