https://www.taxtmi.com/caselaws?id=266614 The ITAT dismissed the Revenue's appeal and allowed the assessee's appeal concerning the assessment year 2009-10. The dispute revolved around the applicability of Sec. 50C on the transfer of tenancy right, computation of long term capital gains based on DVO's report, and interpretation of Sec. 48. The ITAT held that Sec. 50C did not apply to tenancy right transfers, making the DVO's valuation unnecessary. The decision clarified the capital gains computation process in such cases, emphasizing the specific application of relevant provisions. en-us Wed, 19 Aug 2015 00:00:00 +0530 Thu, 22 Oct 2015 15:05:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266614 The ITAT dismissed the Revenue's appeal and allowed the assessee's appeal concerning the assessment year 2009-10. The dispute revolved around the applicability of Sec. 50C on the transfer of tenancy right, computation of long term capital gains based on DVO's report, and interpretation of Sec. 48. The ITAT held that Sec. 50C did not apply to tenancy right transfers, making the DVO's valuation unnecessary. The decision clarified the capital gains computation process in such cases, emphasizing the specific application of relevant provisions. Case-Laws Income Tax Wed, 19 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266614