https://www.taxtmi.com/caselaws?id=177133 The Tribunal held that Section 50C of the Income Tax Act does not apply to the transfer of leasehold rights in land. Therefore, the full value of consideration was accepted at Rs. 42.25 lakhs as declared by the assessee, rejecting the Assessing Officer's higher valuation. The Tribunal partly allowed the assessee's appeal, concluding that Section 50C is not applicable to leasehold rights transactions. en-us Wed, 26 Feb 2014 00:00:00 +0530 Mon, 04 Jan 2016 12:57:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177133 The Tribunal held that Section 50C of the Income Tax Act does not apply to the transfer of leasehold rights in land. Therefore, the full value of consideration was accepted at Rs. 42.25 lakhs as declared by the assessee, rejecting the Assessing Officer's higher valuation. The Tribunal partly allowed the assessee's appeal, concluding that Section 50C is not applicable to leasehold rights transactions. Case-Laws Income Tax Wed, 26 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177133