https://www.taxtmi.com/caselaws?id=196477 The court ruled in favor of the assessee on both issues. It held that the provisions of Section 43(5)(d) should not be applied retrospectively and that Section 50C cannot be enforced on agreements to sale in a manner that would allow the assessee to undervalue the property and evade taxes and stamp duty. The court aligned with previous decisions and dismissed the department's contentions, ultimately disposing of both appeals in favor of the assessee. en-us Tue, 08 Aug 2017 00:00:00 +0530 Sat, 02 Dec 2017 17:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196477 The court ruled in favor of the assessee on both issues. It held that the provisions of Section 43(5)(d) should not be applied retrospectively and that Section 50C cannot be enforced on agreements to sale in a manner that would allow the assessee to undervalue the property and evade taxes and stamp duty. The court aligned with previous decisions and dismissed the department's contentions, ultimately disposing of both appeals in favor of the assessee. Case-Laws Income Tax Tue, 08 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196477