brought under section 50C .""
Thus it is clear that the amended provision of section 50C is not applicable to
the transfer which ... valuation in co-
owners case U/s 50C but Section 50C is not applicable in the case of
assessee. Therefore, the order
Registrar of Stamp duty. As no registered sale took place,
section 50C is not applicable and even if applied, it cannot
exceed Rs.1150 ... sale consideration as
per sale agreement.
b. Applicability of Section 50C :- Section 50C is applicable only
if sale is made at lesser value than
Section 50C of the Act, which came into effect from 01.04.2003 would be applicable. The Ist Appellate Authority held that the provision of Section 50C ... were not in existence on the date of the agreement. Therefore the provisions of section 50C are not applicable to the cases of the appellants
agreement were made prior to insertion of section 50C in the statute,
therefore, Section 50C is not applicable on these transactions made on
agreement ... that the provisions of
Section 2(47)(v) of the Act is applicable on this transfer, Section 50C is not
applicable on this transaction
held that in the case of appellant the provisions of
Sec.. 50C are not applicable. The A.O is directed to compute the capital
gain ... section 2(47) . But the
aforesaid definition was made before section 50C was introduced
to the Income-tax Act . After section 50C was introduced
2013
Assessment Year: 2009-10
provisions of Section 50C of the Act are not applicable. In support of this
proposition, he relied upon the following ... Section 50C are applicable. On the
other hand, if the subject property is sold in the capacity of trader, the provisions
of Section 50C
whether provisions of Sec. 50C are applicable in the
case of surrender of tenancy right.
Section 50C read as under:
(1) Where the consideration received ... not apply
on the facts of the present case. Dismissing Revenue's appeal, we hold
that provisions of Sec. 50C are not applicable
considered. Some case laws were also quoted that
provisions of section 50C were not applicable if land was held as 'stock in
trade ... since it was an asset in stock in trade, therefore, section
50C was not applicable.
13. On the other hand Ld. DR strongl y relied
holding that the section 50C is not applicable on leasehold
rights by ignoring the fact that lease was for a very long period ... submitted by
the assessee that provisions of section 50C will not be applicable as
the land transferred was by way of a deed of assignment
assessable' added in section 50C is clarificatory in nature
and thereby applicable since the inception of Section 50C."
2. "Whether ... erred in holding that the
provisions of section 50 and not those of section 50C are
applicable to the sale of land, ignoring the tact
