https://www.taxtmi.com/caselaws?id=176440 The Tribunal held that Section 50C does not apply to the transfer of tenancy rights, as it is specific to land or building. The AO's assessment based on the market value was deemed incorrect. Consequently, the Tribunal allowed the assessee's appeal, setting aside the orders of the AO and CIT(A). The appeal was decided in favor of the assessee on 27.11.2009. en-us Fri, 27 Nov 2009 00:00:00 +0530 Tue, 29 Aug 2023 14:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176440 The Tribunal held that Section 50C does not apply to the transfer of tenancy rights, as it is specific to land or building. The AO's assessment based on the market value was deemed incorrect. Consequently, the Tribunal allowed the assessee's appeal, setting aside the orders of the AO and CIT(A). The appeal was decided in favor of the assessee on 27.11.2009. Case-Laws Income Tax Fri, 27 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176440