https://www.taxtmi.com/caselaws?id=178330 The Tribunal allowed the appeals, setting aside the CIT(A)'s orders and directing the Assessing Officer to delete the additions made under section 50C. The Tribunal held that section 50C should apply based on the conditions at the time of the sale agreement, finding that the sale value agreed upon was equivalent to the SRO value for stamp duty purposes at that time. Consequently, the capital gains computation additions were reversed. en-us Fri, 02 Jul 2010 00:00:00 +0530 Wed, 13 Sep 2023 22:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178330 The Tribunal allowed the appeals, setting aside the CIT(A)'s orders and directing the Assessing Officer to delete the additions made under section 50C. The Tribunal held that section 50C should apply based on the conditions at the time of the sale agreement, finding that the sale value agreed upon was equivalent to the SRO value for stamp duty purposes at that time. Consequently, the capital gains computation additions were reversed. Case-Laws Income Tax Fri, 02 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178330