https://www.taxtmi.com/caselaws?id=327647 The Tribunal allowed the appeal, ruling that Section 50C of the Income Tax Act was not applicable as the assessee transferred only the right of ownership and not the land itself. The Assessing Officer was directed to compute the capital gains based on the actual consideration received of Rs. 5 Lakhs. The appeal was allowed, and the order was pronounced on 29th April 2016. en-us Fri, 29 Apr 2016 00:00:00 +0530 Mon, 16 May 2016 10:00:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327647 The Tribunal allowed the appeal, ruling that Section 50C of the Income Tax Act was not applicable as the assessee transferred only the right of ownership and not the land itself. The Assessing Officer was directed to compute the capital gains based on the actual consideration received of Rs. 5 Lakhs. The appeal was allowed, and the order was pronounced on 29th April 2016. Case-Laws Income Tax Fri, 29 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327647