https://www.taxtmi.com/caselaws?id=326939 The Tribunal allowed the appeal, ruling that Section 50C of the Income Tax Act does not apply to the transfer of leasehold rights in land. The Assessing Officer was directed to compute capital gains based on the sale consideration declared by the assessee. The Tribunal's decision addressed the assessee's concerns and additional grounds were admitted and decided in favor of the assessee. en-us Wed, 16 Mar 2016 00:00:00 +0530 Thu, 28 Apr 2016 10:07:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326939 The Tribunal allowed the appeal, ruling that Section 50C of the Income Tax Act does not apply to the transfer of leasehold rights in land. The Assessing Officer was directed to compute capital gains based on the sale consideration declared by the assessee. The Tribunal's decision addressed the assessee's concerns and additional grounds were admitted and decided in favor of the assessee. Case-Laws Income Tax Wed, 16 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326939