https://www.taxtmi.com/caselaws?id=203050 The Tribunal held that Section 50C is applicable to depreciable assets forming part of a block of assets, modifying the full value of consideration received. It interpreted Sections 48, 50, and 50C, allowing simultaneous application without conflict. The Assessing Officer's use of Stamp Duty valuation for computing capital gains was upheld to prevent under-valuation. The legal fictions of Sections 50 and 50C were deemed to operate in distinct fields. The Tribunal rejected the contention that the entire block of assets was not sold, affirming the application of Section 50. The Revenue's appeal was allowed, favoring the application of Section 50C and Stamp Duty valuation for capital gains computation. en-us Mon, 25 Apr 2011 00:00:00 +0530 Thu, 11 Aug 2016 10:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203050 The Tribunal held that Section 50C is applicable to depreciable assets forming part of a block of assets, modifying the full value of consideration received. It interpreted Sections 48, 50, and 50C, allowing simultaneous application without conflict. The Assessing Officer's use of Stamp Duty valuation for computing capital gains was upheld to prevent under-valuation. The legal fictions of Sections 50 and 50C were deemed to operate in distinct fields. The Tribunal rejected the contention that the entire block of assets was not sold, affirming the application of Section 50. The Revenue's appeal was allowed, favoring the application of Section 50C and Stamp Duty valuation for capital gains computation. Case-Laws Income Tax Mon, 25 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203050