Interactive flat panels meeting automatic data processing conditions are distinguished from monitors, while later classification clarifications apply ...
Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
In an ITAT decision on section 50C, the Tribunal held that where agricultural land was sold under a single arrangement and the entire consideration was received by cheque at the time of the agreement to sell, the stamp duty value on the later registration dates could not be treated as the full value of consideration. It accepted the assessee's evidence of the December 2007 agreement and related valuation material, and treated the curative amendment to section 50C as retrospective. The relevant stamp valuation was therefore the value prevailing on the agreement date, and the addition made under section 50C was deleted.
In an ITAT decision on section 50C, the Tribunal held that where agricultural land was sold under a single arrangement and the entire consideration was received by cheque at the time of the agreement to sell, the stamp duty value on the later registration dates could not be treated as the full value of consideration. It accepted the assessee's evidence of the December 2007 agreement and related valuation material, and treated the curative amendment to section 50C as retrospective. The relevant stamp valuation was therefore the value prevailing on the agreement date, and the addition made under section 50C was deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
