https://www.taxtmi.com/caselaws?id=348288 The High Court upheld the Tribunal's decision that Section 50C of the Income Tax Act was not applicable to the transaction as it was unregistered with the stamp duty authority. The Court affirmed that the amendment adding "assessable" was prospective, not retrospective. Consequently, the Court dismissed the department's appeal and partially allowed the assessee's cross-objection, ruling in favor of the assessee. en-us Mon, 24 Jul 2017 00:00:00 +0530 Tue, 19 Sep 2017 22:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348288 The High Court upheld the Tribunal's decision that Section 50C of the Income Tax Act was not applicable to the transaction as it was unregistered with the stamp duty authority. The Court affirmed that the amendment adding "assessable" was prospective, not retrospective. Consequently, the Court dismissed the department's appeal and partially allowed the assessee's cross-objection, ruling in favor of the assessee. Case-Laws Income Tax Mon, 24 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348288