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    <title>2017 (12) TMI 55 - RAJASTHAN HIGH COURT</title>
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    <description>The High Court of Rajasthan upheld the Tribunal&#039;s decision in a case concerning the interpretation of Section 50C of the Income Tax Act. The court ruled in favor of the assessee, emphasizing that Section 50C applies to registered property sales and that the amendments are prospective, not applying to unregistered transactions. The court highlighted the binding nature of revenue circulars, ultimately dismissing the appeal and affirming the correct application of Section 50C in the case.</description>
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      <description>The High Court of Rajasthan upheld the Tribunal&#039;s decision in a case concerning the interpretation of Section 50C of the Income Tax Act. The court ruled in favor of the assessee, emphasizing that Section 50C applies to registered property sales and that the amendments are prospective, not applying to unregistered transactions. The court highlighted the binding nature of revenue circulars, ultimately dismissing the appeal and affirming the correct application of Section 50C in the case.</description>
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