https://www.taxtmi.com/caselaws?id=216731 The Tribunal confirmed the liability for Short Term Capital Gains (STCG) on the transfer of 55% of the undivided land portion under the Joint Development Agreement. However, the issue of deemed consideration under section 50C and the taxability of a non-refundable deposit of Rs. 15 lakhs were remitted back to the Assessing Officer for reassessment due to procedural fairness concerns, including the failure to provide the assessee with an opportunity to object and the improper use of information without confrontation. en-us Fri, 29 Jun 2012 00:00:00 +0530 Wed, 19 Sep 2012 15:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216731 The Tribunal confirmed the liability for Short Term Capital Gains (STCG) on the transfer of 55% of the undivided land portion under the Joint Development Agreement. However, the issue of deemed consideration under section 50C and the taxability of a non-refundable deposit of Rs. 15 lakhs were remitted back to the Assessing Officer for reassessment due to procedural fairness concerns, including the failure to provide the assessee with an opportunity to object and the improper use of information without confrontation. Case-Laws Income Tax Fri, 29 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216731