https://www.taxtmi.com/caselaws?id=244303 The judgment upheld the application of Section 50C in determining consideration for a leasehold property transfer. It emphasized that leasehold rights, including entitlements to land and building, are within Section 50C's purview. The Tribunal's decision to value the proportionate transfer of leasehold rights for a specific period was supported, highlighting the distinction between fresh and residual leasehold rights. The comparison with Section 54D(1) underscored the importance of state agency valuations. Ultimately, the appeal was dismissed as no substantial legal question arose regarding Section 50C's application in leasehold property transfers. en-us Mon, 10 Feb 2014 00:00:00 +0530 Sun, 23 Feb 2014 18:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244303 The judgment upheld the application of Section 50C in determining consideration for a leasehold property transfer. It emphasized that leasehold rights, including entitlements to land and building, are within Section 50C's purview. The Tribunal's decision to value the proportionate transfer of leasehold rights for a specific period was supported, highlighting the distinction between fresh and residual leasehold rights. The comparison with Section 54D(1) underscored the importance of state agency valuations. Ultimately, the appeal was dismissed as no substantial legal question arose regarding Section 50C's application in leasehold property transfers. Case-Laws Income Tax Mon, 10 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244303