https://www.taxtmi.com/caselaws?id=270278 The Tribunal dismissed the Revenue's appeal concerning the applicability of section 50C on leasehold rights, ruling that the assessee did not hold absolute ownership and therefore section 50C did not apply. The Tribunal remanded the issue of admission of additional evidence back to the Assessing Officer for proper consideration. Additionally, the deletion of Short Term Capital Gain addition was sent back to the Assessing Officer for a fresh decision after considering all evidence. The Revenue's appeal was partly allowed for statistical purposes, and the assessee's cross objection was dismissed as "not pressed." en-us Fri, 09 Oct 2015 00:00:00 +0530 Sat, 02 Jan 2016 10:13:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270278 The Tribunal dismissed the Revenue's appeal concerning the applicability of section 50C on leasehold rights, ruling that the assessee did not hold absolute ownership and therefore section 50C did not apply. The Tribunal remanded the issue of admission of additional evidence back to the Assessing Officer for proper consideration. Additionally, the deletion of Short Term Capital Gain addition was sent back to the Assessing Officer for a fresh decision after considering all evidence. The Revenue's appeal was partly allowed for statistical purposes, and the assessee's cross objection was dismissed as "not pressed." Case-Laws Income Tax Fri, 09 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270278