https://www.taxtmi.com/caselaws?id=203312 The Tribunal upheld the Assessing Officer's invocation of Section 50C of the Income-tax Act, 1961, in a case involving the adoption of a higher sale consideration for a residential property. The Tribunal differentiated Section 50C from Section 52(2) and confirmed the application of Section 50C, resulting in a Long-Term Capital Gain calculation. Additionally, the Tribunal remanded the issue of non-acceptance of a short-term capital loss on the sale of equity shares back to the Assessing Officer for re-evaluation, allowing the assessee to submit additional evidence and be heard. en-us Fri, 25 Jun 2010 00:00:00 +0530 Thu, 30 Aug 2012 11:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203312 The Tribunal upheld the Assessing Officer's invocation of Section 50C of the Income-tax Act, 1961, in a case involving the adoption of a higher sale consideration for a residential property. The Tribunal differentiated Section 50C from Section 52(2) and confirmed the application of Section 50C, resulting in a Long-Term Capital Gain calculation. Additionally, the Tribunal remanded the issue of non-acceptance of a short-term capital loss on the sale of equity shares back to the Assessing Officer for re-evaluation, allowing the assessee to submit additional evidence and be heard. Case-Laws Income Tax Fri, 25 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203312